President Bola Tinubu has approved the appointment of veteran chartered accountant and financial consultant Kunle Elebute as Chairman of the Governing Board of the Financial Reporting Council of Nigeria (FRCN).
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‎The appointment, announced by the Presidency on Thursday, is part of efforts to strengthen corporate governance standards, improve transparency, and boost investor confidence in Nigeria’s financial system.
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‎According to the statement, the Federal Government sees the move as a key step towards enhancing accountability and ensuring greater integrity within the country’s financial reporting framework.
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‎Elebute, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), brings more than 40 years of experience in accounting, auditing, consulting, and corporate governance across Nigeria, West Africa, and international markets.
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‎Over the course of his career, he held several leadership positions within KPMG, including Senior Partner and Chief Executive Officer of KPMG Nigeria, Chairman of KPMG West Africa, and Chairman of KPMG Africa. He also served on the firm’s regional and global boards, including its Global Board Audit Committee.
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‎The Presidency described him as a respected professional whose expertise spans audit services, financial advisory, risk management, governance, and business transformation.
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‎Beyond the private sector, Elebute has contributed to public policy and regulatory reforms through participation in various government committees. He has also advised major organisations operating in sectors such as finance, healthcare, infrastructure, consumer goods, energy, and public administration.
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‎The statement further noted that he played significant roles in initiatives related to banking sector reforms and the advancement of corporate governance practices in Nigeria.
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‎The Financial Reporting Council serves as the country’s principal regulator for financial reporting, auditing, actuarial practice, valuation standards, and corporate governance compliance. Its mandate is considered crucial to maintaining market credibility, safeguarding investors, and supporting economic stability.
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‎According to the Presidency, Elebute’s appointment comes at a time when the council is pursuing important institutional reforms, including ongoing engagements under the UK-Nigeria Enhanced Trade and Investment Partnership and efforts to align Nigeria’s reporting standards with global best practices.
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‎President Tinubu expressed confidence that Elebute’s extensive experience and leadership capabilities would help strengthen the council’s effectiveness and contribute to the administration’s broader economic reform objectives.
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‎The government added that his appointment is expected to support the Renewed Hope Agenda’s goal of creating a more transparent, competitive, and investment-friendly business environment.
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