The Financial Reporting Council of Nigeria (FRC) on Wednesday extended the deadline for Nigerian Code of Corporate Governance (NCCG) 2018 compliance reporting for entities with year-end December 31, 2021, by one month to April 30, 2022.
FRC is a federal government agency established by the Financial Reporting Council of Nigeria Act, No. 6, 2011. It is a federal government Parastatal under the supervision of the Federal Ministry of Industry, Trade and Investment.
The Council on Wednesday informed all public companies and the general public that submission of NCCG 2018 reports will henceforth be done virtually via the Council’s Online Web Portal, which goes live April 1, 2022.
This also concerns their holding companies, concessioned/privatised companies, regulated private companies as defined in the Regulation to NCCG 2018, and the general public.
The Web Portal is developed to further enhance Ease of Doing Business, reduction of cost, time, and effort taken to comply with NCCG 2018, and serve as a repository for investors, researchers, and other stakeholders to gather and generate corporate governance information on Nigerian entities in both the private and public sectors.
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Consequently, the Council has issued the following Guidance to assist to onboard the Portal for a seamless user experience: the Go-live Date for the Portal is April 1, 2022.
With effect from this date, the NCCG 2018 Compliance Reporting Web Portal can be accessed at the Council website: www.financialreportingcouncil.gov.ng
With effect from this date, the Council will neither accept physical hard copies nor emails for the NCCG 2018 Compliance Report.
The deadline for NCCG 2018 Compliance Reporting for entities with year-end December 31, 2021, is extended by 1 month to April 30, 2022, deadline for reporting on Compliance with NCCG 2018 remains three months after year end of the Company.
The council said a webinar to sensitize stakeholders will be held on March 17, 2022, calling on intending participants to register for the webinar through the following link: https://bit.ly/frcnccg.
