With the turn around of the Financial Reporting Council FRC in the last near two years under the leadership of Dr Rabiu Onaolapo Olowo, the success story has metamorphosed into a global glare which led to his recent election to lead the global body .
With his election as Chairman at the 41st session held in the United Nations, the United Nations Conference on Trade and Development (UNCTAD) in November, 2024, singled out the Financial Reporting Council FRC boss to oversee the affairs in line with the inter governmental working group of experts on international Standards of Accounting and Reporting (ISAR).
The election purely on merit came at a time when the Institute of Chartered Accountants of Nigeria (ICAN) honored him in 2024 for his proficient, leadership dexterity and achievements since his appointment to lead the Financial Reporting Council of Nigeria FRC.
His election will trigger a lot of initiatives, synergy with his exceptional leadership and expertise in corporate reporting and management, that had facilitated ease of doing business and management in the country.
It will also withes a new era of global financial reporting excellence, hardworking, and result oriented activities.
Piloting the affairs of the UNCTAD/ISAR , no doubt will galvanize and attract more global engagements, ensure standards as well as enhance productivity in all its affairs going forward.
While responding to the new phase of life after the election as UNCTAD/ISAR , he expressed his gratitude in leading the global collaboration and experts towards improving financial reporting sector.
“I am committed to leading a global collaboration of experts focused on improving transparency and comparability in corporate reporting across the globe in order to unlock capital flows.” Olowo stated
He further states..
“Dr. Rabiu Olowo Elected Chair of UNCTAD ISAR: A New Era of Global Financial Reporting Excellence”
“The Financial Reporting Council of Nigeria is pleased to announce that its Executive Secretary/CEO, Dr. Rabiu Olowo, has been elected as the Chair of the 41st session of United Nations Conference on Trade and Development (UNCTAD), Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR).”
“This prestigious appointment is a testament to Dr. Olowo’s exceptional leadership and expertise in corporate reporting.”
“Speaking after his election, Dr. Olowo expressed his gratitude and commitment to leading the global collaboration of experts. “It is a great honour to be elected Chair of 41st session of UNCTAD ISAR,” he said.
“I am committed to leading a global collaboration of experts focused on improving transparency and comparability in corporate reporting across the globe in order to unlock capital flows.”
“As the Chair of UNCTAD ISAR, Dr. Olowo will play a crucial role in shaping the global financial reporting landscape.”
“His vision for improved transparency and comparability in financial reporting aligns with the FRC’s mission to promote excellence in financial reporting and governance.”
“Under Dr. Olowo’s leadership, the FRC has undergone significant transformation, with initiatives such as the development of Small and Medium Enterprises, Corporate Governance Guidelines (SME CGG) and launching the roadmap for the adoption of sustainability reporting standards in Nigeria in collaboration with the ISSB Chairman.”
“Key Highlights of Dr. Olowo’s Election:
Global Recognition: Dr. Olowo’s election as Chair of UNCTAD ISAR recognizes his expertise and leadership in corporate reporting.”
“Improved Transparency: Dr. Olowo’s commitment to improving transparency and comparability in corporate reporting will unlock capital flows globally.
FRC’s Transformation: ”
“Under Dr. Olowo’s leadership, the FRC has introduced initiatives to promote excellence in financial reporting and governance.”
“The Financial Reporting Council (FRC) of Nigeria is a federal government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011(as amended). It is under the supervision of the Federal Ministry of Industry, Trade and Investment.”
With the new feat, no doubt FRC and international bodies will collaborate to improve working relationship and promote laudable global agenda.
Written BY ABUBAKAR YUSUF on yus.abubakar3@gmail.com.
