FRC; Renewing, Restructuring, Reforming, Revolutionizing Roles in 3 years,
BY ABUBAKAR YUSUF
Under the Renewed Hope Agenda, RHI of President Bola Ahmed Tinubu’s administration, the Financial Reporting Council of Nigeria, FRC under the leadership of Dr Rabiu Olowo in three years has changed the negative perception of the organization from a low ebb to higher pedestal.
Appointed in October 12, 2023 by President Bola Ahmed Tinubu to restructure, rebuild , refocus and reform the activities of the council, Olowo has putting in alot of energy, wealth of experience that brought the council from the doldrums of non- performance to higher pedestal of one of performing agencies of government in Nigeria, with focus on timely financial reports, service delivery.
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In three years , the activities, image and reforms crisscrosing the council placed it on both local and international sphere, with the emergence of the Chief Executive Officer, Executive Secretary as President, 41st session of the United Nations Conference on Trade and Development UNCTAD, between November 2024-2025 as the first Nigerian, African to lead the global body.
The positive development came at a time when Nigeria had no envoys or ambassadors in foreign countries, with the FRC’s olowo engaging in diplomatic activities towards portraying the good image of the country, but also advancing the Renewed Hope Agenda, RHI of the present administration in the global arena.
This was coming at at time when the needed and necessary reforms was ongoing at home front administratively , operationally among many others .
Olowo embarked after many years on relocation and completion of the council two offices , the headquarters in Lagos and the nation’s city concealed in a hidden area of the city against the operational norms and regulatory roles .
After a decade establishment through an act in 2011 as amended, Financial Reporting Council of Nigeria, FRC recently commissioned its benefiting new headquarters in Lagos few months ago , and relocated the nation’s headquarters from an obscured environment to a high brow area of the city.
The positive development of a befiting accommodation alone had encouraged staff performance and regulatory roles including monitoring and oversights more demanding and result oriented.
With Olowo at the helms of affairs in the council, the era of non- performance, abscondment from duty, poor office environment and rejigged regulatory roles became obvious.
With the welfare of officers at all levels at high pedestal, regular promotion, training and retraining, official engagement both locally and internationally, the era of lackadaiscal and lack luster attitudes became a thing of the past, giving way to high productivity and result oriented council.
In three years , the new management under Dr Rabiu Onaolapo Olowo established two new departments to augment and had improved the performance of all departments in the agency .
The new Financial Reporting Council of Nigeria, FRC improved workers welfare, pay up gratuities, revenue base, proposed for approval more revenue drive that will place it fully as part of self sustaining agency, comparable to the super agencies like NNPCL , NRS, NPA, NIMASA among others .
With regular and adequate capacity building programs for staffers , three years down the line , the council took charge fully on its monitoring, regulatory and official engagements across all strata in the council against the previous order of non- performance.
The success story of the massive reforms of the council’s activities had placed it in a vantage position of competing favorably with other sister agencies in Nigeria under the leadership of Dr Rabiu Onaolapo Olowo in the last three years.
The positive development alone was an indicator that with a good driver and reform driven leadership, good results is possible to reposition government activities in agencies as carried out by Dr Rabiu Olowo in Financial Reporting Council of Nigeria, FRC.
Written BY ABUBAKAR YUSUF on yus.abubakar3@gmail.com.
DemocracyNewslineNewspaper October 4th, 2026
