Minister Backs FRC on Corporate Governance

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Musa Bello

Kasim Sumaina in Abuja

The Minister of the Federal Capital Territory (FCT), Muhammad Bello has expressed support for the role the Financial Reporting Council of Nigeria (FRC) is playing promoting corporate governance.

Bello, said this when the FRC Council, led by its Executive Secretary, Daniel Asapokhai visited the minister in Abuja.

During the meeting, the FRC boss called on the federal government to assist it in recovering its landed property located at Guzape, Federal Capital Territory, Abuja.

Asapokhai, stated that the agency had not been able to carry out any meaningful development on the disputed property due to the activities of squatters.

He said that unlike many of the Federal Government agencies, FRC operates from Lagos.

According to him, since 2015, the agency has been working to have its headquarters in Abuja.

“We have been following our petition with the federal government that in 2015, there was an approval for us to get a landed property in Abuja to able to build our headquarters.

“It was same time that government approved the adoption of International Financial Reporting Standards (IFRS) and also for the public sector to use the International Public Sector Accounting Standards (IPSAS).

“We also did a launching of a fund that was meant to establish an IFRS academy meant for the training of people in the public and private on financial standard,” he said.

“So, through your ministry we were granted a landed property in Guzape and is 10,000 square meters. Unfortunately, since that 2015 that we were granted certificate of occupancy, we have not been able to embark on any development work as a result of the squatters that have been on the property,” he explained.