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FG to Set up Financial Report Review Committee

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The Federal Government says it will set up a technical working group to properly review the annual dues structure for Public Interest Entities (PIEs).

Dr Jumoke Oduwole, Minister of Industry, Trade and Investment, said this on Wednesday in Abuja, at a stakeholders` engagement on the Financial Reports Council of Nigeria (FRCN) Levy.

According to Oduwole, the review will be carried out under the Financial Reporting Council Act (FRC) (Amendment) 2023.

The minister was responding to the Manufacturers Association of Nigeria (MAN), Nigeria Employers’ Consultative Association (NECA), the Organised Private Sector (OPS), and others’ request that the implementation of the annual levy be suspended.

According to them, the implementation of the levy will affect businesses and the economy of the country, as people will lose their jobs, thereby causing more hardship.

Oduwole, however, explained that the decision was a direct response to the concerns raised by the organised private sector and other key stakeholders.

The minister said that the review and the set-up of the technical working group should happen within the next 60 days with tangible ideas.

`Between the next 60 days, we are going to set up a technical working group comprised of FRCN and organised private sector representatives.

“Because we are a listening government. President Bola Tinubu had been briefed and wanted the private sector to be comfortable.

“We want the economy to thrive. So this is what we are going to do. We want to ensure we come up with the best fit for Nigeria.

`What is clear is that they cannot pay what they used to pay. But they may not pay what they have been asked to pay,” she stressed.

Oduwole, however, reassured the stakeholders that the ministry remained committed to working closely with them to enhance business competitiveness and align with Nigeria’s broader economic transformation agenda.

“I want to thank the Nigerian private sector for their belief in the administration of President Bola Tinubu.

“I want to also thank them for believing in the reforms that have been implemented since May 2023. The ministry and the FRCN are committed to implementing the eight-point agenda.

“I want to thank all the participants and to assure Nigerians that we will get back to them in a similar transparent manner,’’ she said.

Dr Rabiu Olowo, Chief Executive Officer, FRCN, said that the 2023 amendment, according to records, was brought to reduce the size of the board to address some issues of conflict of interest.

Olowo, who opposed the proposal for the suspension, said that the amendment was brought to highly defined PIEs.

He argued that the amendment had helped to define, claim, and define public interest entities to avoid ambiguities.

`It has helped to protect typical private entities from failure and to make the council more effective in discharging its mandates and to expand the enforcing powers of the council.

“The FRCN, in spirit, should be an independent regulator, robust and fair, in order to deliver on its mandate,’’ Olowo said.

Report says that FRCN was established by Act, No. 6, 2011, under the supervision of the Federal Ministry of Industry, Trade and Investment.

The FRCN is responsible for, among other things, developing and publishing accounting and financial reporting standards and other related matters in Nigeria.

The law, which amended the FRCN Act 2011, was signed into law on May 3, 2023.

It aims to enhance transparency and accountability in financial reporting and strengthen corporate governance in Nigeria.

Section 33 (1)(c) of the FRCN Act 2023 stipulates that quoted companies/PIES are to pay annual dues based on 0.002 per cent of their market capitalisation or N25 million. (NAN)

Foreign News

 Delegates in China Denounce Xenophobic Attacks

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African delegates attending seminars in China have condemned reported xenophobic attacks against foreign African nationals in South Africa and called for greater unity across the continent.

The delegates made the condemnation on the sidelines of training programmes organised by the Academy for International Business Officials (AIBO) under China’s Ministry of Commerce.

They described the reported attacks as disturbing and contrary to the ideals of Pan-Africanism, solidarity, and peaceful coexistence.

Yusupha Bojang of The Gambia’s National Council for Civic Education said Africans must see themselves as one people irrespective of colonial-era boundaries.

“We first have to recognise that in Africa we are all one. These boundaries are artificial creations. We should treat each other as brothers and sisters,” he said.

Bojang said frustrations over domestic challenges should not be directed at fellow Africans lawfully residing in another country.

“If you have any problem, it should be channelled to your government, not innocent citizens legitimately carrying out their activities,” he said.

He urged Africans to speak with one voice against xenophobia.

“We need to unite. When we see wrongs happening, we should all come out to condemn them because it can happen to anybody,” he added.

Also speaking, Jallow Gibbi, a journalist with Dunia Radio in The Gambia, said he was saddened by reports of Africans attacking fellow Africans.

“When I watched the news, I was embarrassed to see Africans fighting Africans. It is not humanitarian and it should not happen,” he said.

Gibbi called on African leaders and international organisations to promote peace and unity across the continent.

“We are all the same. One Africa, one people. We should unite and stay together,” he said.

He said information from Gambian diplomatic authorities indicated that no Gambian citizen had been reported affected, while advising nationals to remain vigilant.

Mr Richard Jombi James of South Sudan’s Ministry of Culture, Museum and National Heritage described African unity as essential to the continent’s progress.

“We are all Africans from the north to the south, east and west. We cannot attack ourselves. We are one Africa, one people,” he said.

Kawu Muhammed Lawan of Nigeria’s Federal Ministry of Arts, Culture, Tourism and Creative Economy said the reports were particularly troubling given the support many African countries provided during South Africa’s anti-apartheid struggle.

“Looking at all the efforts other African countries made to end apartheid in South Africa, it is embarrassing to witness hostility against fellow Africans today,” he said.

Lawan urged African leaders to take practical steps to protect citizens across the continent and strengthen regional integration.

Similarly, Emmanuel Nok, a legal practitioner with South Sudan’s Ministry of Culture, Museum and National Heritage, said Africans should reject violence and discrimination against one another.

“We feel hurt as Africans when we see fellow Africans being hunted by other Africans. We should condemn such behaviour because it goes against the spirit of African brotherhood,” he said.

Nok noted that many African countries host citizens from neighbouring states and stressed that peaceful coexistence remained vital for economic development and regional cooperation.

The delegates called on governments, regional organisations and civil society groups to promote tolerance, strengthen social cohesion and uphold the principles of African unity.

They also urged Africans to focus on common development goals, saying stronger cooperation would advance peace, prosperity and integration across the continent.

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Kogi Targets 240,000 Children for Schistosomiasis Mass Drug Administration

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From Joseph Amedu, Lokoja

The Kogi State Government said it will reach over 240,000 children aged 5–14 years in 39 wards across 15 Local Government Areas (LGAs) in the 2026 Schistosomiasis Mass Administration of Medicines (MAM) exercise.

The campaign is scheduled for June 22–30, 2026.

The target was unveiled at a two-day state-level planning meeting convened Wednesday by the Ministry of Health, Department of Public Health – Neglected Tropical Diseases (NTDs), Control Programme in collaboration with Sightsavers.

The meeting aimed at developing strategies for 2026 treatment targets, validate drug quantification, strengthen micro-planning, and finalize the implementation timeline for schistosomiasis, also known as bilharzia.

Declaring the meeting open, the Commissioner for Health Dr Abdullazeez Adams, said schistosomiasis remains a public health challenge in Kogi, affecting school-age children, farmers, fishermen, and communities near freshwater bodies.

Represented by the Permanent Secretary Maji Enoch, the commissioner noted the disease reduces school attendance, affects productivity, and impacts health outcomes.

He said the meeting would review performance from previous rounds, strengthen social mobilization and training of teachers and Community Drug Distributors, CDDs, and focus on data quality, equity, and beneficiary safety.

He commended Sightsavers and the Federal Ministry of Health for technical and financial support, and urged LGAs to maintain strong collaboration “to reach the last child in the last community.”

The National Programme Manager, Dr Jacob Solomon of the Federal Ministry of Health (FMOH), said Nigeria is working toward WHO’s 2030 elimination target for schistosomiasis and soil-transmitted helminthiasis.

He described Kogi’s progress since baseline mapping as “significant” and urged participants to remain diligent to reach the “last mile.”

Solomon confirmed the programme targets all children 5–14 years, whether in school or out of school.

The State NTD Coordinator, Musa Momohjimoh, said the intervention will use Praziquantel in 39 wards identified as endemic from a 2015 survey and revised WHO strategy.

According to him, teachers will administer drugs in schools while health workers supervise, and CDDs will reach out-of-school children.

He said radio jingles and engagement of religious and community leaders will drive awareness.

Sightsavers Programme Officer, Phoebe Hindan, said treatment will cover only wards with demonstrated need based on evidence.

She described Praziquantel as safe and effective, used in Kogi for over 10 years, and urged parents to allow children to participate.

She noted misconceptions have caused refusals in the past, and warned untreated schistosomiasis can lead to other complications in the future.

The government said the campaign will cover public, private schools and out-of-school children, with parents directed to contact the State Ministry of Health for enquiries.

Salihu Usman, a participant and former Education Secretary of Kogi LGEA, assured the government of the participants’ commitment to a result-oriented MAM exercise that will deliver on its goals and objectives.

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Anambra Urges Residents to Provide Information on Fake Pastors, Others

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From Sylvia Udegbunam, Enugu

The Anambra State Government, under the leadership of Prof. Chukwuma Charles Soludo, has extended the “War Against Fake Native Doctors” to fake pastors and other individuals masquerading as genuine men and women of God while engaging in criminal practices.

This is disclosed in a public announcement signed by the Commissioner for information and value reformation Anambra state, Law Mefor, noting that it is part of the efforts of the Solution Government to rid the state of all forms of criminality and sanitise both traditional worship and religious practices in order to restore sanity, law and order in the state.

To this end, the government is calling on Ndị Anambra and all residents of the state with credible information on pastors, churches, or so-called “men of God” involved in criminality, extortion, fraud, deception, or any act that endangers lives and the peace of our communities or misleads the people in the state to please speak up. All information will be treated with absolute confidentiality.

Despite the negative claims made during the campaigns against the effort to clean up criminals pretending to be traditional healers and real religious leaders, this effort will actually protect the true freedom of traditional worship and religious practice.

Let us work together to take back our state from criminals hiding under religion, culture and tradition.

Call +2348034182108 or 5111 if you have any useful information.

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