By Ekuson Nw’Ogbunka, Abuja
The Honourable Minister of Industry, Trade and Investment (FMITI), Dr. Jumoke Oduwole, is convening an urgent stakeholder forum to address concerns surrounding the annual Financial Reporting Council of Nigeria (FRCN) levy.
This engagement comes in direct response to concerns raised by the organized private sector and other key stakeholders.
In a press statement from the Director Press and Public Relations FMITI on Tuesday, the forum, scheduled to hold on Wednesday, March 26, 2025, in Abuja and streamed online, will provide a platform for open dialogue and a review of the current framework.
Dr. Oduwole emphasized the Ministry’s commitment to stakeholder collaboration, stating that “constructive dialogue around regulatory policies is essential to ensure that all businesses — large and small — are supported in a fair and sustainable way.”
The FRCN levy has been a subject of concern for many stakeholders, particularly with regards to Section 33(1)(c) of the FRCN Act, which stipulates that quoted companies are to pay annual dues based on 0.002% of their market capitalization or ₦25 million, whichever is lower.
The Honourable Minister’s engagement reflects the federal government’s broader commitment to transparency, fairness, and alignment with international best practices, as outlined in President Bola Tinubu’s 8-Point Agenda.
