As part of the efforts towards strengthening the Nigerian financial landscape, the Nigerian government and its agencies have in the last year embarked on extensive legal reforms which include the recently published Code of Corporate Governance for Public Companies 2011. In a further development, the Nigerian Accounting Standards Board (NASB) is seeking the passage of the Financial Reporting Council of Nigeria Bill 2008 which is pending before the Nigerian National Assembly. The Bill seeks, among other things, to repeal the Nigerian Accounting Standards Board Act 2003.
May 03 2011