Shettima: Credible Financial Reporting Vital to Investor Confidence, Economic Stability
Shettima: Credible Financial Reporting Vital to Investor Confidence, Economic Stability
Vice President Kashim Shettima has stressed the importance of reliable and transparent financial reporting in strengthening investor confidence and promoting Nigeria’s economic stability.
Shettima, who spoke through his Chief Special Adviser on Economic Matters, Dr Tope Fasua, made the remarks during the commissioning of the new permanent headquarters of the Financial Reporting Council of Nigeria (FRC) on Allen Avenue, Ikeja, Lagos.
The Vice President said sustainable economic growth requires strong and credible regulatory institutions capable of promoting transparency, accountability and confidence in the financial system.
He noted that Nigeria’s abundant natural resources and capital would not be sufficient to guarantee sustainable prosperity without institutional trust.
“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.
He also emphasised the importance of strengthening institutions that support credible financial reporting and regulatory effectiveness, noting that investor confidence depends largely on the reliability of information available in the market.
The commissioning marked a significant milestone for the FRC, which has operated from rented premises for more than four decades. The council’s Executive Secretary and Chief Executive Officer, Dr Rabiu Olowo, described the new headquarters as a new chapter in the institution’s development.
The new facility is expected to provide a permanent base for the council and support its regulatory responsibilities in financial reporting, corporate governance and related standards.
