Nigeria VP emphasizes transparent financial reporting for economic stability

Vice President Kashim Shettima has emphasized that transparent and reliable financial reporting is essential for Nigeria’s economic stability and investor confidence. Speaking through his Chief Special Adviser on Economic Matters, Dr. Tope Fasua, during the commissioning of the new permanent headquarters of the Financial Reporting Council of Nigeria in Lagos, Shettima noted that institutional trust is the primary catalyst for sustainable growth.

Shettima stated that while Nigeria possesses significant natural resources and capital, prosperity remains fragile without trust. He argued that financial reporting is about more than accounting metrics; it is about “confidence in the numbers.” He asserted that a credible reporting ecosystem reduces information asymmetry, improves investment decisions, and strengthens corporate accountability.

The Vice President added that the administration of President Bola Tinubu is committed to establishing durable governance structures to provide long-term regulatory certainty for both domestic and international investors.