
News
FG moves to control churches, mosques, others
•Olowo, new executive secretary, unfolds transformation agenda
•Says companies, govt institutions falling short of standards expected under the FRC Act
Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), Dr. Rabiu Olowo, yesterday, unveiled his agenda for the council, including a plan to re-introduce a corporate governance code for not-for-profit organisations and the public sector.
In an address he presented during a stakeholders’ and media roundtable in Lagos, Olowo stressed that the codes for both the public and not-for-profit sectors were at an advanced stage, with the target to unveil them within the first quarter of 2024.
Not-for-profit organisations include churches, mosques and other non-governmental organisations (NGOs). In 2016, the FRC led by Jim Obazee, who was recently appointed by President Bola Tinubu to investigate the Central Bank of Nigeria (CBN), had ordered not-for-profit organisations, including churches and mosques, to comply with the corporate governance code, which, among others, had stipulated term limits for heads of the organisations. The development, which became controversial, as it was challenged by some of the prominent church leaders in the country, had led to the removal of Obazee.
But speaking during the media roundtable, Olowo explained, “As controversial as it is, it is something that must be done. If you do a risk analysis of entities in any country, the not-for-profit sector is as risky as the profit entities. So, it is very important that we issue codes on how these institutions are covered. It is our responsibility to do that and we will not shy away from that.”
Olowo, who was appointed the FRC boss last month, said the transformation agenda of the council would be hinged on four broad areas tagged, “DOSE, which means Digitisation, Operational Excellence, Stakeholder Engagement and Enforcement.” He said this was in line with Tinubu’s “Renewed Hope Agenda”.

Olowo pointed out that the “21st Century has seen a massive shift from manual processes into a digital operationalisation of activities. Our transformation agenda is hinged upon the use of technological tool to enhance our activities.
“FRC will leverage on technology to streamline its operations and improve efficiency. This includes the use of technology in the filing and analysis of financial statements, corporate governance reports and other corporate filings, as well as the implementation of online reporting systems to facilitate timely and accurate submission of financial statements.
“Our focus will be to ensure efficient and effective delivery of flawless service to the stakeholders through digitalisation, capacity building, advocacy and thought leadership. Our processes will be automated to ensure quick and timely responses”.
Olowo also stated that financial statements, corporate governance reports and all other corporate reporting requirements expected from relevant stakeholders would be done through the council’s planned Digital Repository Platform as mandated by FRC Act 2011 (as amended).
According to him, “The council commenced the development of the Public Sector Governance Code, which is very close to completion and forms a key part of my agenda. The public sector remains the catalyst of economic growth in not only Nigeria but emerging markets. Institutionalisation of corporate governance in the public sector of Nigerian economy is fundamental towards sound policies and economic growth. This we plan to unveil in the first quarter of year 2024.
“Similarly, the council, seeing the need for proper guidance to Not-For-Profit Organisations, embarked on developing a Governance Code for Not-For-Profit 10 Organisations. The code is at an advanced stage with the target to unveil same within the first quarter of 2024.”
He also said FRC would introduce the Inspection Specialist Programme, which would complement and strengthen its monitoring efforts focusing on a sectorial leadership approach to review of corporate reports.
Olowo stated, “There is need to scale up staff capacity in terms of number of professional staff and skills. As an umbrella regulator in financial reporting and related matters, the current number of professional staff in the Council is grossly inadequate. Their skills are expected to be top-notch and comparable with similar organisations globally.
“Our aim is to raise capacity of staff both in number and skills to the highest desirable level. A gradual increase in the number of staff will be undertaken to progressively raise the number to about 450 staff with appropriate number of professionals included in the next few years.
“Another initiative of capacity building is to undertake twinning arrangements with sister regulators globally. This will help to benchmark and fine tune the Council’s professional resources to international levels. Talents will be sourced both internally and externally to meet the demands of corporate reporting which includes IFRS, IPSAS, Corporate Governance, Auditing Standards and Sustainability Reporting. iv. Establishment of all the Statutory Directorates Section 23 of the FRC Act 2011 (As amended) stipulated 7 directorates for the Council. Unfortunately, after 12 years of the establishment of the Council, only five out of the seven directorates are functional as earlier mentioned.
“However, and in line with our transformation agenda, Council has taken it as a priority to have the full complements of the Directorates in 2024 as stipulated in the Act. The Council is engaging the relevant stakeholders for the establishment of the Directorate of Valuation Standards and Directorate of Actuarial Standards.”
He said the issuance of roadmap report for sustainability reporting in Nigeria would be done before the end of the first quarter of 2024.
While calling for the support and cooperation of all stakeholders, Olowo said, “We have witnessed concerning evidence that numerous entities and government institutions are falling short of the high standards expected under the FRC Act 2011. Our task therefore is to transform the FRC into a new, robust, independent, and high-performing regulator comparable globally.
“The bedrock of the transformation agenda of the council going forward is to ensure maximum compliance with the FRC Act 2011 (as amended), and other statutory instruments released by the Council. FRC intends to give full credibility to any financial statements coming out of Nigeria in a way that investors can rely on the information in the statements.
“A new FRC that will be firm and fair in carrying out her mandate; that will hold corporates and individuals accountable; and that will restore confidence in corporate reports and governance in the Nigerian economy thereby enhance the renewed hope of President Bola Ahmed Tinubu.” (THISDAY)
News
Court Orders Interior Minister Tunji-Ojo to Respond to Suit Seeking Release of His NYSC Records
The Federal High Court in Abuja on Monday ordered the Minister of Interior, Olubunmi Tunji-Ojo, to respond to a suit seeking to compel the release of records of his National Youth Service Corps (NYSC) scheme.
Justice Salim Ibrahim gave the order when the matter came up for hearing.
The Incorporated Trustees of Pathway to Equity and Charity Foundation had filed the suit, marked FHC/ABJ/CS/1812/2026.
The group prayed the court to compel the NYSC to disclose documents supporting the minister’s claim that he completed the mandatory one-year national service.
The foundation also sought an order of mandamus directing the Federal Capital Territory Administration (FCTA), the 2nd respondent, to produce records showing that the minister did his primary assignment at the FCTA.

When the case was called, counsel to the applicant, Chief Solomon Akuma, SAN, told the court he was ready to proceed with the hearing.
However, Abiola Olaniji, who appeared for the minister, said he had filed an application for Tunji-Ojo to be joined as the 3rd respondent.
Olaniji said the applicant (foundation) had responded with a counter affidavit raising serious issues, to which he needed time to reply.
The lawyer stated that the minister was ready to take part in the proceedings as an interested party.
But Akuma opposed the application, arguing that the minister was not a proper party.
He said the suit only sought an order of mandamus compelling the respondents (NYSC and FCTA) to produce documents that are not in the minister’s custody.
Justice Ibrahim directed the minister to file and serve his reply to the applicant’s counter affidavit, which opposed his application to be joined as a party in the suit before the next hearing date.
The judge then adjourned the matter until Oct. 18 for hearing.
The applicant had sought from the NYSC the mobilisation or call-up letter issued to Tunji-Ojo in 2006 or any other year; the posting letter to the FCTA in 2006 or any other year; and his application for mobilisation.
It also sought the evidence of approval of his remobilisation by the NYSC’s Director-General; evidence of payment of allowances to him; the record of his Community Development Service and his discharge certificate.
The foundation equally sought from the FCTA, the mobilisation or call-up letter, the posting letter, his attendance record during the service year, evidence of any allowance paid to him, among others.
It said the application was brought under Section 14 of the Federal High Court Act, Order 34 Rules 1, 2 and 5 of the Federal High Court (Civil Procedure) Rules 2019.
It also cited Sections 20, 21 and 25 of the Freedom of Information (FOI) Act, 2011.
(NAN)
News
Reject money requests from home, Obi tells UK-based Nigerians
The presidential candidate of the Nigeria Democratic Congress, Peter Obi, has advised Nigerians residing in the United Kingdom to stop sending money to people who seek financial help at home.
Obi also advised them to urge their relatives to vote for productive leaders.
He made the remarks at a town hall meeting with diaspora supporters in Manchester, United Kingdom, on Sunday.
He stressed that Nigeria’s prevailing economic hardship resulted from bad leadership, arguing that continuous financial assistance only cushions the effects of poor governance without addressing the root causes.
“You have people at home in Nigeria today who are begging you for money. Tell them no!” he said.

The former Anambra State governor insisted that his record in public office distinguished him from other governors, claiming none of them matched his achievements in saving public funds.
“I’m not saying I’m a saint, but I saved money. I’ve not seen one governor who has saved 10 per cent of what I saved. No governor has done it.
“Let’s start with this one that is less corrupt. That’s how other countries change.”
He maintained that his conversations with the people reinforced the need for collective responsibility, stressing that building a new Nigeria would require citizens to take an active role in addressing challenges facing the country.
Obi also urged Nigerians to take the 2027 election seriously, describing the contest as a critical moment for the nation.
News
Federal High Court Upholds ENSSAA’s N150m Political Campaign Billboard Fee, CTC Reveals
Contrary to false and misleading reports on social media that a Federal High Court (FHC) sitting in Abuja had nullified the N150 million fee prescribed by the Enugu State Structures for Signage and Advertisement Agency (ENSSAA) for political campaign billboards, findings have revealed that the court actually ruled in favour of the agency, upholding its powers to prescribe the fee.
According to a certified true copy (CTC) of a judgment of FHC sitting in Enugu, the court had on September 1, 2026, dismissed a suit by opposition parties and figures challenging ENSSAA’s authority to impose a mandatory N150 million fee on each political party seeking to erect campaign billboards or display posters ahead of the 2027 general election.
The judgment rendered by Justice Mabel Segun-Bello held that it was within the legislative competence of the Enugu State House of Assembly to make laws on outdoor advertising and for ENSSAA to exercise powers donated to it by state law.
The suit marked FHC/EN/CS/165/2026 had the Labour Party; Chairman of the Labour Party (LP) in Enugu, Hon. Kingsley Ugwu; Nigeria Democratic Congress (NDC); NDC factional state Chairman, Engr. Ibuchukwu Obetta; the Social Democratic Party (SDP) and its state Chairman, Hon. Magnus Ezea, as plaintiffs, while ENSSAA; its General Manager, Mr. Francis Aninwike; the Enugu State House of Assembly; Independent National Electoral Commission (INEC); Advertising Regulatory Council of Nigeria (ARCON); and Nigeria Police Force were the respondents or defendants.
The plaintiffs had in June 2026 approached the court seeking a declaration that, by virtue of Sections 99 (1) and (2) of the Electoral Act, 2026, and Section 153 of the 1999 Constitution, which donated exclusive powers to INEC to regulate electoral campaigns of political parties in Nigeria, it was ultra vires the powers of ENSSAA and its General Manager to make executive decisions and publications imposing a mandatory payment of N150 million by political parties and their candidates in the state as an advertisement permit fee for the placement of billboards for the council election and the 2027 election.

They equally sought a declaration by the court that it was unlawful and ultra vires the legislative powers of the Enugu State House of Assembly to make laws regulating the advertisement of political campaigns in the state.
Consequently, the plaintiffs sought an order of the court setting aside the mandatory N150 million fee, as well as an injunction restraining the agency and its GM, the Enugu State Government, its agents and representatives from enforcing ENSSAA’s executive directive.
They finally sought an order of the court mandating the Nigeria Police Force to protect political parties in Enugu State against possible harassment for the placement of billboards and posters for the council election and the 2027 elections.
However, delivering her judgment in September, after a careful consideration of the totality of the affidavit evidence, the exhibits, and submissions by both parties, the presiding judge, Justice Mabel Segun-Bello, held, among other things, that the National Assembly does not hold exclusive legislative powers over outdoor advertising.
“I accede to the 1st, 2nd and 3rd Defendants’ contention that the subject matter of ‘outdoor advertising’ is NOT reserved exclusively to the National Assembly or to ARCON.
“Rather, ‘outdoor advertising’ falls within the purview of the primary functions of the Local Government, which may (where properly delegated) be validly exercised by a State agency such as the 1st Defendant (ENSSAA).
“Third, I am satisfied that on the basis of the evidence before this Court, the 1st Defendant has established it had a validly delegated authority to issue the directive it gave on 9th February, 2026, for the regulation of advertisement of political campaigns,” she stated.
Guided by these foregoing conclusions, Justice Segun-Bello held that “it is not ultra vires the powers of the Enugu State Structures for Signage and Advertisement Agency and its General Manager (1st and 2nd Defendants) to pass executive decisions and publications imposing a mandatory payment of N150 million naira, as advertising permit that will enable the use of billboards in Enugu State.”
Continuing, she said, “It is also hereby declared that it is not ultra vires the legislative powers of the Enugu State House of Assembly (3rd Defendant) to make laws regulating advertisement in Enugu State.
“Consequently, the directive published by the 1st and 2nd Defendants on 9th February, 2026, mandating political parties and their candidates in Enugu State to pay N150,000,000.00 (One Hundred and Fifty Million Naira) as a pre-condition for obtaining an advertising permit to place billboards and posters for the 2026 and 2027 general election campaigns, is not an unlawful use of State Apparatus to the disadvantage of political parties, contrary to Section 99(2) of the Electoral Act, 2026.
“Save as expressly granted above, the remaining reliefs claimed by the Plaintiffs are hereby refused.”
Meanwhile, the Enugu State Government says that unlike the practice in most states, the N150 million fee is for each political party, not for candidates, as misrepresented on social media and by some commentators.
The Secretary to the State Government, Prof. Chidiebere Onyia, made the clarification recently while fielding questions from Government House correspondents in Enugu, adding that there was no court judgment on the fee by any FHC in Abuja, as falsely circulated.
In a related development, finding show that the Abia State Structures for Signage and Advertising Agency (ABSSAA) prescribed feea for candidates ranging from N20 million for State House of Assembly candidates to N200 million for presidential candidates.
Imo State fees range from N3.55 million for each House of Representatives candidate to N55 million for each governorship candidate, while the permit fees range from N300,000 for local council candidates to N150 million for presidential candidates.
The campaign permit fee ranges from N100,000 for each councillorship candidate to N50 million for each presidential candidate, while Kwara State fixed its fees at N2 million for each House of Assembly candidate and N100 million for presidential candidates.
The Certified True Copy of the Court Judgement :

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