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FRCN Seeks Partnership with EFCC

By Wilson Uwujaren
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The management of the Financial Reporting Council of Nigeria, FRCN, on May 3, 2017 expressed its readiness to partner with the Economic Financial Crimes Commission, EFCC, in a bid to promote a healthy financial climate in Nigeria.

Executive Secretary of the Council, Daniel Asapokhai, made this known during a visit to the Abuja headquarters of the anti-graft agency.

The FRCN, according to him, was established to “protect investors and other stakeholders’ interest, ensure good corporate governance practices in the public and private sectors of the Nigerian economy, and to promote the highest standards among auditors and other professionals engaged in the financial reporting process.”

He noted that for the Council to be able to effectively discharge its mandate, it needed to partner with the EFCC, which necessitated the visit to the Commission.

While acknowledging the tremendous work done by the anti-graft agency, Asapokhai said, “We commend your resolute commitment in revamping the fight against corruption, and we are here to seek collaboration with you.”

Asapokhai also urged the two organizations to sign a Memorandum of Understanding aimed at fostering cooperation and collanoration between them.

The Acting EFCC Chairman, Ibrahim Magu, who was represented by the Commission’s Secretary, Emmanuel Adegboyega Aremo, assured the Council of EFCC's readiness to collaborate with the FRCN, and urged the Council to relate more closely with the Special Control Unit against Money Laundering, SCUML, “as they are the ones that deal with the registration and monitoring of professional bodies”.