By Dauda Ismail
The Presidential Enabling Business Environment Council,.PEBEC,.says it is currently examining concerns surrounding the Financial Reporting Council of Nigeria,.FRCN, and the annual dues and fees imposed on Public Interest Entities, PIEs.
This, it says has become necessary due to recent amendments to the Financial Reporting Council of Nigeria Act which has expanded the definition of Public Interest Entities, PIEs, to include various categories of private companies, concession entities, and privatized entities. These changes aim to enhance transparency and accountability in financial reporting and strengthen corporate governance in Nigeria.
This has however lead to issues that have arisen regarding the payment of annual dues and fees by PIEs.
“The FRCN has introduced new payment dates and penalties for non-compliance, which may affect various stakeholders.
“To address the concerns surrounding the FRCN’s recent amendments, we are holding a series of stakeholder engagements. “These sessions aim to foster open discussions and collaborative problem-solving among key stakeholders,”PEBEC ‘s Director General, Princess Zahah Mustapha Audu, said in a press statement dated 21/03/2025, and made available to AljazirahNigeria Newspapers.
“We hope to find a meaningful solution for all parties shortly..We call on all parties to remain assured that PEBEC will continue to emulate best practices, ensuring Nigeria remains competitive and an attractive destination for businesses and investors.
“Our commitment to driving business reforms, improving the ease of doing business, and enhancing transparency and accountability remains unwavering,” Princess Audu concluded.
