President Bola Tinubu has approved the appointment of Kunle Elebute as Chairman of the Governing Board of the Financial Reporting Council of Nigeria (FRCN), a move aimed at strengthening corporate governance and improving confidence in the country’s financial reporting system.
The appointment was announced on Thursday through a statement shared by the Presidency. According to the statement, the decision forms part of the Federal Government’s efforts to promote transparency, accountability and a more reliable financial environment for businesses and investors.
Elebute is a chartered accountant and financial management consultant with more than 40 years of professional experience across Nigeria, West Africa and international markets. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and has held several leadership positions during his career.
Before his appointment, he served as Senior Partner and Chief Executive Officer of KPMG Nigeria. He also chaired KPMG West Africa and KPMG Africa, while serving on various regional and global boards within the organisation, including its Global Board Audit Committee.
The Presidency noted that Elebute has built a career in auditing, financial advisory services, risk management, corporate governance and business transformation. Over the years, he has provided professional guidance to institutions operating in sectors such as banking, infrastructure, healthcare, consumer goods, energy and the public sector.
The statement further noted that he has contributed to policy development and regulatory reforms through his involvement in several government-related committees. He was also involved in initiatives linked to banking sector reforms and improvements in corporate governance practices.
The Financial Reporting Council of Nigeria is responsible for setting and enforcing standards related to financial reporting, auditing, valuation, actuarial practice and corporate governance. The agency plays a key role in maintaining confidence in Nigeria’s financial system and protecting the interests of investors.
The government said Elebute’s appointment comes at a time when the council is pursuing important institutional goals, including efforts to align Nigeria’s reporting standards with international best practices and ongoing engagements under the UK-Nigeria Enhanced Trade and Investment Partnership.
President Tinubu expressed confidence that Elebute’s experience and leadership would strengthen the council and support ongoing economic reforms aimed at creating a more transparent, competitive and investor-friendly economy.