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IPSASB Exposure Drafts

May 24, 2016

COMMENTS ON IPSASB EXPOSURE DRAFT, 59 – AMENDMENTS TO IPSAS 25, EMPLOYEE BENEFITS In furtherance of the provisions of the Financial Reporting Council of Nigeria Act No. 6, 2011; the Council hereby invites you to comment on the IPSASB’S Exposure Draft (ED) 59- Amendments to IPSAS 25, Employee Benefits, as published by the International Federation […]

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REVISED DRAFT OF THE NATIONAL CODE OF CORPORATE GOVERNANCE

January 11, 2016

Following the conclusion of the two public hearings held June 30thand July 2nd, 2015 in the first instance and the review of the amended areas during the Financial Reporting Summit held on the subject on December 22-23, 2015, please find the amended version of the Codes for your final comments. Comments should be made in […]

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Council releases Rule 8: Functional and Presentation Currencies.


Reply to CBN Governor’s letter on FRC Regulatory Decision on Stanbic IBTC Holdings Plc.

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Biometrics Capture

Please be informed that Professionals who have duly completed their registration process with our council up to paymen stage should proceed to the nearest FRC Office or Desk office locate at teh Cooperate Affaires Commission as here under for their biometric data and capture.


Capture Centres

  1. Corporate Affairs Commission

    Godwin Abbey Road

    Limit Junction, Sapele Road

    Benin City

  2. Corporate Affairs Commission Office

    1, Yakubu Avenue,

    behind Lugard hall,

    Kaduna

  3. Corporate Affairs Commission Office

    30, Danjuma Drive,

    Off Trans Amadi Industrial Layout,

    Port Harcourt

  4. Financial Reporting Council of Nigeria

    Financial Reporting Council of Nigeria
    LCCI Conference Centre
    10, Olowopopo Street
    (Near MKO Abiola Gardens)
    Central Business District
    Alausa, Lagos

  5. Corporate Affairs Commission Office

    18/20, Catholic Mission Street,

    Opposite City Hall,

    Lagos Island,

    Lagos

  6. Corporate Affairs Commission Office

    44, Adegoke Adelabu

    Total Garden, Adjacent

    K.S. Hotel,

    Yemetu, Ibadan

  7. Corporate Affairs Commission Office

    Plot 31B, Okpara Avenue,

    Enugu

  8. Corporate Affairs Commission Office

    Plot 420, Tigris Crescent

    Off Aguiyi Ironsi Crescent

    Maitama, Abuja

  9. Corporate Affairs Commission Office

    Wuse Zone 5

    Old C.A.C

    Abuja

  10. Corporate Affairs Commission Office

    Otunba Jobi Fele Way,

    Alausa, Lagos

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NOTICE! NOTICE!! NOTICE!!!

FRC, ABUJA HAS RELOCATED TO
4TH FLOOR, FEDERAL SECRETARIAT COMPLEX,
PHASEII, BLK C, SHEHU SHAGARI WAY,
CENTRAL BUSINESS DISTRICT, ABUJA

 

NOTICE! NOTICE!! NOTICE!!!

FRC HAS RELOCATED TO
4TH FLOOR, LCCI HOUSE
NO 10, NURUDEEN OLOWOPOPO STREET,
(NEAR MKO ABIOLA GARDENS)
CENTRAL BUSINESS DISTRICT,
ALAUSA, LAGOS.

ONLINE REGISTRATION PROCESS WITH FRC

  1. Kindly go to our website: www.financialreportingcouncil.gov.ng (Do make sure that your internet browser is either Explorer 9OR Google ChromeOR Mozilla Firefox).
  2. On the major heads at the site, click on “Registration” and open to “Individual Professional”. (Please note that all Professionals irrespective of field of study are to register: see Section 41 of Financial Reporting Council Act of Nigeria 2011).
  3. Complete the application form: (Kindly make sure you have your passport photograph, copies of your educational and professional certificates and your signature scanned; as you shall be required to upload them).
  4. Make payment either online or at any Bank branch with a print-out of your Transaction Code.
  5. Submit the printed completed form to FRC office.
  6. Kindly call Mrs. Kate Aliu on 08036668903 or 017936101 if you need assistance.

The documents needed for registration:

  1. Photocopies of your Professional and Educational certificates
  2. One passport sized photograph that must be;
  • 50mm high x 50mm wide
  • A recent and true likeness, showing full face, without hat, helmet or sunglasses.
  • Original – that is not digitally or optically altered (for example it must not be ‘photo-shopped’ or ‘touched-up’).
  • Taken against an off-white, cream or light grey background so that your features are clearly distinguishable against the background.

Note: Photographs that do not conform to these standards will be rejected and may cause a delay in processing your application.

  1. Photocopies of National Identity Card, International Passport or Driver’s Licence.
  2. A scanned copy of your signature.
  3. Evidence of payment of the appropriate non refundable registration fee of Seventeen Thousand Three Hundred Naira (N17,300)only for individual professional or Two Hundred and Nineteen Thousand, Three Hundred Naira (219,300) for multiple professional.
  4. Ensure payment is made within 48hours of registration after which your transaction code expires to revalidate, it attracts a fine of TwoThousand, Five Hundred naira (N2,500) only.
  5. Payment is still STRICTLY on PAYDIRECT PLATFORM
  6. Please DO NOTregister twiceas this will attract a penalty fee of Five Thousand Naira (5,000) only.

 

Note: All certificates should be scanned in PDF format while your passport photograph and signature in JPG format for upload during the registration online.

 

 

ON-LINE COMPANY REGISTRATION PROCESS

Kindly go to our website: www.financialreportingcouncil.gov.ng

Ensure that your internet browser is either Explorer 9 OR Google Chrome OR Mozilla Firefox

On the right side of the site, Click on Registration, then click Company/Enterprise (on the drop down)

Scan: Signature (of contact person) for upload

Fill the Form. (after filling, submit and print the form; then click Save and print a number that appears on the screen)

Annual Due Rates:

Limited and Enterprises. See Section 33 (c) of the FRC Act, 2011.  Click here for details (Please note that your preceding year’s turnover determines your current year annual due payment.)

Listed or Quoted companies:

See Section 33 (b) of FRC Act, 2011. Click here for details. (Please note that the calculation of your annual dues is based on your market capitalisation as at January 1 of every year OR your market capitalisation as at the date you are listed/quoted on the Exchange in that very year.)

Pay Point

Make your payment at any of our offices nearest to you. Click here for locations.

Submit to the Council: the printed Form, Financial Statements (of previous two years) and your annual due payment (cheque or cash).

Anual Due Rate for Ltd. Coy/Ent.

Tuneover                                                            Annual Dues

=N=                                                                       =N=

Less than 50m                                                           5,000.00

50m – 500m                                                              20,000.00

500m – 1bn                                                               50,000.00

1bn – 10bn                                                              100,000.00

10bn and above                                                    1,000,000.00

Please note that the preceeding year’s turnover determines your current annual due payment

FRC annual dues payment is effective from 2011. Arrears dues for 2006 – 2010, if any, under NASB to be paid (at 5,000.00 p/a)

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Notice Board

About FRC Nigeria

The Financial Reporting Council (FRC) of Nigeria is a federal government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011.  It is a federal government Parastatal under the supervision of the Federal Ministry of Industry, Trade and Investment.  The FRC is responsible for, among other things, developing and publishing accounting and […]

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Category: Uncategorized

Notice!  Notice!!  Notice!!! This is to inform you that we received a Court injunction restraining us from embarking on further consideration of the draft Corporate Governance Code. As a law abiding organisation, we are constrained to postpone the public hearing that ought to hold today May 19, 2015. We shall communicate a new date to […]

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Category: Uncategorized

IFRS for SMEs ‘train the trainers’ workshop in Nigeria On 25–27 November 2014 the IFRS Foundation held a three-day workshop in Lagos, Nigeria, to train the trainers on the IFRS for SMEs. The IFRS Foundation instructors were Darrel Scott (Chairman of the SMEIG and IASB member) and Michael Wells (Director, IFRS Education Initiative, IASB). The event was […]

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Category: Uncategorized

NOTICE! NOTICE!! NOTICE!!! FRC, ABUJA HAS RELOCATED TO 4TH FLOOR, FEDERAL SECRETARIAT COMPLEX, PHASEII, BLK C, SHEHU SHAGARI WAY, CENTRAL BUSINESS DISTRICT, ABUJA   NOTICE! NOTICE!! NOTICE!!! FRC HAS RELOCATED TO 4TH FLOOR, LCCI HOUSE NO 10, NURUDEEN OLOWOPOPO STREET, (NEAR MKO ABIOLA GARDENS) CENTRAL BUSINESS DISTRICT, ALAUSA, LAGOS. ONLINE REGISTRATION PROCESS WITH FRC Kindly go […]

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Links and resources