THE Financial Reporting Council of Nigeria (FRC) has won the award of the Financial Regulator of the year by the Pan African Leadership Summit and Merit Awards (PAMA) 2015.
In a statement by the media/communications consultant to FRC, Mr. Mack Ogbamosa, the award was conferred on the council by PAMA at a ceremony held in the British Council Auditorium, Accra, Ghana at the weekend.
Conferring the award on the Executive Secretary/CEO of FRC, Mr Jim Obazee, represented by Mr. Iheanyi Anyahara, a director in the council, the Chief Executive Officer of PAMA, Prince Ikechukwu Onwuka-Smarty, described the award as a mark of recognition of the role the FRC has been playing in sanitizing the financial sector through enforcement of financial standards in Nigeria.
Obazee declared the award as recognition of the roles members of staff and board of the council have been playing in ensuring players in the economy are playing according to the rules.
He also said the impact of the FRC enforcement of accounting, auditing, actuarial and valuation standards are already being felt in the transformation of the nation’s economy.
Established under the Financial Reporting Council Act. No 6 of 2011, the FRC is charged with regulating accounting, auditing, actuarial and valuation standards as well as maintaining codes of corporate governance in Nigeria.
Other categories of awards at the PAMA 2015 included Africa’s Foremost Agent of Change won by former President of Ghana, Jerry John Rawlings, Africa’s Most Outstanding Personality in Arts and Culture won by the Director General, Centre for Black Arts & African Civilization (CBAAC), Dr. (Sir) Ferdinand I. Anikwe, and Africa’s Most Outstanding Personality in Agricultural Development Award won by Dr. Akinwunmi Adesina of Nigeria, who is the President, African Development Bank (ADB).