ARTICLE
29 May 2014

Are Private Companies Subject To Oversight By The Financial Reporting Council?

PN
PwC Nigeria

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PwC Nigeria is one of the leading professional services ?rms in Nigeria with of?ces in Lagos, Abuja and Port Harcourt, with over 1,000 staff and 31 resident partners. We are committed to serving as a force for integrity, good sense and wise solutions to the problems facing businesses and the capital markets. We are guided by one promise – to do what is right, be it with our people, clients, community, or environment.
Here is our regulatory alert on a recent judgement by the Federal High Court on the subject on the subject of filing returns with the FRCN.
Nigeria Corporate/Commercial Law

In case you are wondering or have recently been asked to file returns with the Financial Reporting Council of Nigeria (FRCN), here is our regulatory alert on a recent judgement by the Federal High Court on the subject.

The Federal High Court ("FHC") on 21 March 2014 ruled in a case between Eko Hotels Limited and the FRCN. The FHC decided that under the FRCN Act, the FRCN cannot enlarge its regulatory powers to regulate private companies.

Download FRCN restricted from regulating private companies

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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