Vice President Kashim Shettima has declared that reliable and transparent financial reporting forms the bedrock of investor confidence and national economic stability, emphasising that sustainable economic prosperity cannot be achieved without strong, credible regulatory institutions.
Speaking through his Chief Special Adviser on Economic Matters, Dr Tope Fasua, during the official commissioning of the new permanent headquarters of the Financial Reporting Council of Nigeria in Lagos, Shettima noted that while the country possesses abundant natural resources and capital, institutional trust remains the ultimate catalyst for sustainable economic growth.
“A nation may have oil, gas, fertile land, talented people, and abundant capital, but without trust, capital becomes cautious, investment becomes hesitant, and prosperity becomes fragile,” Shettima said.
The Vice President asserted that financial reporting transcends routine accounting metrics, stressing that transparency in corporate disclosures directly influences investment decisions and overall market resilience.
He said, “Financial reporting is, therefore, not simply about numbers; it is about confidence in the numbers. In a serious economy, numbers must tell the truth before they can tell the story of prosperity.”
Shettima highlighted that the administration of President Bola Tinubu remains firmly committed to building durable governance structures that transcend individual political cycles and provide long-term regulatory certainty for domestic and international investors.
He added, “Money does not merely follow opportunities; it follows confidence, and confidence follows institutions. A credible financial reporting ecosystem lowers information asymmetry, improves investment decisions, strengthens corporate accountability, supports better allocation of capital, protects investors, enhances the credibility of our markets, and ultimately contributes to economic growth.”