Lagos State Governor, Babajide Sanwo-Olu, has commissioned the new permanent eight-storey headquarters of the Financial Reporting Council of Nigeria (FRC) on Allen Avenue, Ikeja, describing the development as a major boost to corporate governance and financial regulation in the country.
Sanwo-Olu said the FRC operated from rented facilities for more than 40 years before securing its permanent headquarters, stressing that strong institutions require a solid foundation to effectively discharge their responsibilities.
He noted that businesses need clear rules, investors require confidence, shareholders deserve protection, and the public must trust that financial systems are transparent and properly regulated.
The governor said locating the FRC headquarters in Lagos was strategic, given the state’s position as Nigeria’s leading business hub and the concentration of many businesses regulated by the Council in the state.
According to him, the new facility would strengthen regulatory oversight while creating more opportunities for professionals in accounting, consulting and related fields.
Sanwo-Olu urged the FRC to use its new permanent base to respond more effectively to emerging challenges, deepen engagement with businesses and raise the standard of corporate governance in Nigeria.
He congratulated the Council on the new headquarters, saying the growth of institutions must remain aligned with the country’s economic development.
