FRC, Integrity Organisation Launch Business Certification for SMEs

Oluchi Chibuzor 

In a move to deepen corporate governance and integrity within Nigeria’s small and medium-scale enterprise (SME) sector, the Financial Reporting Council of Nigeria (FRC), in collaboration with the Integrity Organisation, has launched the Business Integrity Certification (BIC) initiative, offering free certification to eligible SMEs until March 31, 2026.

This was disclosed in Lagos during the inaugural meeting of the Advisory Committee of the Business Integrity Certification Initiative, convened to drive the operationalisation of corporate governance standards for SMEs in line with the Nigerian Code of Corporate Governance (NCCG) 2018.

Speaking at the event, Comfort Osundu, FRC’s representative on the Advisory Committee, explained that the new BIC framework provides a simplified and scalable process for SMEs to strengthen their governance systems.  She added that certified businesses would be better positioned to attract foreign investments, secure grants, and ensure long-term business sustainability.

Chief Executive Officer of Integrity Organisation and member of the Advisory Committee, Mr. Soji Apampa, said the BIC is designed to embed integrity into the operations of Nigerian SMEs while enhancing investor confidence in the sector.

According to him, the certification process is fully digitised and accessible via the FRC’s website under the SME section. “When SMEs log on and answer the questionnaire, they will be able to assess their compliance level with the corporate governance guidelines. The platform highlights weak areas and allows them to improve until they qualify for certification,” Apampa explained.

Also speaking, Mrs. Lola Adekoye, Regional Director, Africa Hub, CIPE, and member of the Advisory Committee, hailed Nigeria’s leadership in piloting the Business Integrity Certification across its SME ecosystem.