The Nigeria Employers’ Consultative Association (NECA), led by its Director-General, Mr. Adewale-Smatt Oyerinde, held a strategic engagement with the Financial Reporting Council of Nigeria (FRCN) in Lagos to strengthen collaboration on corporate reporting, sustainability practices, and the promotion of a more transparent business environment.
During the meeting, the Chairman of the Financial Reporting Council of Nigeria, Dr. Rabiu Olowo, highlighted the Council’s ongoing capacity-building programmes for Small and Medium Enterprises (SMEs) and Micro, Small and Medium Enterprises (MSMEs), reaffirming FRCN’s commitment to supporting smaller businesses in meeting required financial reporting standards.
Speaking on the forthcoming mandatory Sustainability Reporting framework, Dr. Olowo confirmed that the Council will roll out a structured readiness programme for the private sector ahead of implementation, to ensure organisations are adequately prepared when the new regime takes effect.
He also commended NECA member-companies that have distinguished themselves as early adopters and voluntary sustainability reporters, and further acknowledged NECA’s establishment of an ESG Advisory Board. According to him, the Council will align with the initiative, describing it as a positive step toward strengthening responsible and sustainable business practices in Nigeria.
As a key outcome of the engagement, both institutions agreed to establish a NECA–FRCN Joint Technical Committee to facilitate sustained collaboration, coordinate capacity-building initiatives, and ensure that private sector perspectives are reflected in the Council’s regulatory processes.
The Nigeria Employers’ Consultative Association (NECA) was formed in 1957 to provide a forum for the Government to consult with private-sector employers on socio-economic and labour policy issues. It is, therefore, the umbrella organization of employers in the Organised Private Sector of Nigeria.
NECA provides a platform for private sector employers to interact with the government, labour, communities and other relevant institutions in and outside Nigeria for the purpose of promoting a harmonious business environment that will engender productivity and prosperity for the benefit of all. NECA is not a trade union but a dynamic and highly respected professional body registered under the Company and Allied Matters Act 1990 with the following membership structure:
