Tinubu appoints Kunle Elebute as Financial Reporting Council chairman

President Bola Tinubu has approved the appointment of renowned chartered accountant and financial management consultant, Kunle Elebute, as Chairman of the Governing Board of the Financial Reporting Council of Nigeria.

According to a post on the Presidency’s X handle on Thursday, the appointment is intended to strengthen corporate governance, enhance investor confidence, and deepen transparency and accountability within Nigeria’s financial reporting ecosystem.

The statement read, “The appointment reinforces the Federal Government’s commitment to strengthening corporate governance, enhancing investor confidence, and deepening transparency and accountability within Nigeria’s financial reporting ecosystem.”

PUNCH Online reports that Elebute, a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), brings more than four decades of professional experience spanning Nigeria, West Africa and global markets.

He previously served as Senior Partner and Chief Executive Officer of KPMG Nigeria, Chairman of KPMG West Africa, and Chairman of KPMG Africa. He also served on KPMG’s regional and global boards, including its Global Board Audit Committee.

The statement described him as a highly respected professional with extensive experience in audit, financial advisory services, risk consulting, corporate governance and strategic transformation.

According to the statement, “Mr Elebute is a distinguished Chartered Accountant and financial management consultant with over four decades of professional experience spanning Nigeria, West Africa, and global markets.”

It further noted that he has advised leading institutions across the financial services, infrastructure, healthcare, consumer goods, energy and public sectors, while also contributing to national policy and regulatory development through service on several public sector committees.

The statement added that Elebute had played important roles in initiatives related to banking consolidation and corporate governance reforms.

It also highlighted the strategic role of the Financial Reporting Council of Nigeria in the country’s economic development.

“The Financial Reporting Council of Nigeria plays a critical role in setting and enforcing financial reporting, auditing, actuarial, valuation, and corporate governance standards in Nigeria. The Council’s work remains central to promoting market integrity, protecting investors, and sustaining confidence in Nigeria’s economy.

“Mr Elebute’s appointment comes at a crucial period as the FRCN advances key institutional priorities, including ongoing engagements under the UK-Nigeria Enhanced Trade and Investment Partnership and efforts to align Nigeria’s corporate reporting framework with international best practices,” the statement read.

The President also expressed confidence that Elebute’s experience and leadership would strengthen the council’s operations and support the administration’s economic reform agenda.

“The Federal Government is confident that his wealth of experience, leadership, and governance expertise will further strengthen the Council’s mandate and support the Renewed Hope Agenda’s objective of building a more transparent, competitive, and investment-friendly economy,” the statement added.