President Bola Ahmed Tinubu has appointed Mr. Kunle Elebute as Chairman of the Governing Board of the Financial Reporting Council of Nigeria (FRCN).
The appointment was announced in a statement released by the Presidency on Thursday, June 18.
Elebute’s appointment is part of the Federal Government’s efforts to strengthen corporate governance, improve transparency and accountability, and enhance investor confidence in Nigeria’s financial reporting system.
What they are saying
According to the Presidency, Elebute’s appointment brings decades of experience in accounting, auditing, financial advisory and corporate governance to the Financial Reporting Council at a time when the agency is advancing key reforms aimed at aligning Nigeria’s reporting standards with global best practices.
The statement noted that the new FRCN board chairman has built a distinguished career spanning more than four decades across Nigeria, West Africa and international markets, holding several senior leadership positions within KPMG, including Senior Partner and Chief Executive Officer of KPMG Nigeria, Chairman of KPMG West Africa and Chairman of KPMG Africa.
- “Mr. Elebute is a distinguished Chartered Accountant and financial management consultant with over four decades of professional experience spanning Nigeria, West Africa, and global markets.”
The Presidency also highlighted his extensive experience advising institutions across multiple sectors, including financial services, infrastructure, healthcare, consumer goods, energy and the public sector.
- “Widely respected for his expertise in audit, financial advisory, risk consulting, corporate governance, and strategic transformation, Mr. Elebute has advised leading institutions across the financial services, infrastructure, healthcare, consumer goods, energy, and public sectors.”
It added that his appointment comes as the FRCN pursues critical institutional priorities, including ongoing engagements under the UK–Nigeria Enhanced Trade and Investment Partnership and broader efforts to strengthen Nigeria’s corporate reporting framework.
Brief profile of Kunle Elebute
Kunle Elebute is a Chartered Accountant and financial management consultant with more than 40 years of professional experience in accounting, auditing, corporate governance and strategic advisory services.
He previously served as Senior Partner and Chief Executive Officer of KPMG Nigeria, before rising to become Chairman of KPMG West Africa and later Chairman of KPMG Africa, making him one of the most prominent Nigerian professionals to have led the firm’s regional operations.
During his career, Elebute also served on KPMG’s regional and global boards, including membership of the firm’s Global Board Audit Committee.
Beyond the private sector, he has contributed to several public policy and regulatory initiatives in Nigeria, including committees focused on banking sector reforms, corporate governance standards and financial system development.
The Presidency said his extensive experience in governance, risk management and financial reporting would be instrumental in advancing the FRCN’s mission of improving transparency, accountability and investor confidence in Nigeria’s economy.
What you should know
The Financial Reporting Council of Nigeria (FRCN) is the country’s primary regulator responsible for setting and enforcing standards on financial reporting, auditing, valuation, actuarial practice and corporate governance.
Its role has become increasingly important as Nigerian regulators tighten oversight across various segments of the economy. Recent years have seen stricter anti-money laundering compliance requirements, heightened scrutiny of digital lenders over consumer protection and data privacy concerns, and increased regulatory attention on emerging sectors such as cryptocurrencies and digital assets.
The FRCN’s work is also central to promoting market integrity and sustaining investor confidence, particularly as Nigeria seeks to attract more domestic and foreign investment while aligning its reporting and governance frameworks with international best practices.
According to the Presidency, Elebute’s appointment is expected to further strengthen the council’s mandate and support the Tinubu administration’s objective of building a more transparent, competitive and investment-friendly economy.
