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The Financial Report Council of Nigeria (FRC) has called on the Federal Government to, as a matter of urgency, intervene, fast track and possibly recover its landed property located at Guzape, Federal Capital Territory (FCT).
Its Executive Secretary, Daniel Asapokhai, said this during the Council’s visit to the minister. He stated that the body had not been able to carry out any meaningful development on the disputed landed property due to the activities of squatters.
He said unlike many of the Federal Government agencies, the Council operates primarily from Lagos.
“So I am sure lot of you that have been in Abuja for a while will be familiar with the Corporate Affairs Commission (CAC), the Investment Promotion Counci, and a number of other agencies within our ministry.
“But when you mentioned financial reporting council, perhaps, no one has heard about the press reports. Because, you can’t pinpoint where it operates from. And that is because we have no office or headquarters in Abuja,” he explained.
According to him, “there is a matter we have been pursuing for a long time and then, we have been following our petition with the Federal Government that in 2015, there was an approval for us to get a landed property in Abuja to build our headquarters. Also at that time, government has approved for Nigeria to adopt International Financial Reporting Standard, (IFRS) and also for the public sector to use what is called the IPSAS, International Public Sector Accounting Standard, So we also did a launching of a fund that was meant to establish an IFRS academy meant for the training of people in the public and private on financial standard.
“So, through your ministry , we were granted a landed property in Guzape and is 10,000sq metres. Unfortunately, since that 2015 that we were granted certificate of occupancy, we have not been able to embark on any development work as a result of the square metres that have been on the property,” he added.
Speaking further, he stressed that the council is a regulatory agency of the federal government and supervise by the Minister of Trade and Investment, saying “what we do is to promote trade and investment in Nigeria.”
