ICAN honours FRC chief executive

The Institute of Chartered Accountants of Nigeria (ICAN) has honoured the Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), Dr Rabiu Olowo, with its 2024 ‘Top Chartered Accountant Under 40’ award.

The award was in recognisation of Olowo’s rising profile as a professional chartered accountant. The award was conferred on him at the weekend, by the 59th President of ICAN, Dr Innocent Iweka Okwuosa, during the ICAN 2024 Award/Annual Dinner Night, which was held in Lekki, Lagos State.

Okwuosa said: “On behalf of the council and members of ICAN, we present this merit award to you under the ‘Young Accountants Category’, which we have introduced in this award.”

Speaking on the honour bestowed on him by the ICAN, Olowo said the recognition was a personal challenge to him to continue to be a role model for current and future generations of accountants.

He said: “It is a great honour and I am deeply grateful. It is very humbling to be recognised in this way. It will only serve as motivation for me to continue to be a role model for current and future generations of accountants.

“I am very happy that ICAN has recognised my work all through the years, be it when I was in the private sector and now that I am in the public sector. It is a great honour. I am deeply humbled.” Olowo said the award would strengthen his resolve to deepen a new regime of transparency and integrity in the financial reporting in the country.

“For me, it is just a start for a new regime of transparency and accountability when it comes to financial reporting in Nigeria. This award is a motivation for me to continue to act as a role model, especially for the future generation of accountants.”

“What I would like to say is that through transparency and integrity that accountants are known for, we need to distinguish ourselves and when we do this we will not only grow in our career but receive this kind of recognition.”

According to him, in the past seven months, the FRC has done quite notable activities. “We have established two new directorates, which are the Directorate of Material Standards and the Directorate of Valuation Standards.

“Within these seven months, we have also rolled out the adaption Roadmap for Sustainability Reporting in Nigeria. We have gotten the buy-in of the president and the vice president, ministers, the governor of Lagos State and every key stakeholder within the private and public sector sustainability reporting in Nigeria.

As an advocate of practice in forensic accounting, finance and public policy, his expertise and experience will significantly contribute to the promotion of transparency, accountability and excellence in financial reporting.

Olowo holds an MBA from the University of Lagos, an MSc in Accounting and Finance from Robert Gordon University in Aberdeen, the United Kingdom and a PhD in Forensic Accounting and Auditing.