Financial Reporting Council of Nigeria (FRC) – Report on Compliance with the Nigerian Code of Corporate Governance (NCCG) 2018
The Financial Reporting Council of Nigeria (FRC) issued a Guidance for Reporting on Compliance with the Nigerian Code of Corporate Governance (NCCG) 2018; it also stipulates timelines for corporate entities to report compliance with the NCCG 2018.
The guidance is in furtherance of the Council’s engagement with all sector regulators to develop sectoral guidelines of corporate governance on specific requirements relevant to each sector, which are not covered under NCCG 2018. Further Sectoral Guidelines are to be released once the engagement with Sectoral Regulators is complete. Reporting entities shall report on the application of the Code in their annual reports for financial years ending after January 1, 2020 in the form and manner prescribed by the FRC.
The table contains timelines for completing the template for reporting on compliance with the Code for financial years ending after January 1, 2020 given different financial year ends adopted by reporting entities.