Tinubu Names Former KPMG Nigeria CEO Kunle Elebute as FRCN Board Chairman

President Bola Ahmed Tinubu has appointed renowned chartered accountant and corporate governance expert, Mr Kunle Elebute, as Chairman of the Governing Board of the Financial Reporting Council of Nigeria (FRCN).

The appointment, announced on Thursday in a statement by the President’s Special Adviser on Information and Strategy, Mr Bayo Onanuga, is aimed at strengthening corporate governance, enhancing investor confidence and deepening transparency and accountability in Nigeria’s financial reporting system.

According to the Presidency, the appointment underscores the Federal Government’s commitment to promoting global best practices in financial reporting and building a more competitive and investment-friendly economy.

Elebute is one of Nigeria’s most respected accounting and financial advisory professionals, with more than four decades of experience spanning Nigeria, West Africa and international markets.

He previously served as Senior Partner and Chief Executive Officer of KPMG Nigeria, Chairman of KPMG West Africa, and Chairman of KPMG Africa. During his distinguished career, he also served on several regional and global boards of the international professional services firm, including membership of the KPMG Global Board Audit Committee.

The new FRCN board chairman is widely recognised for his expertise in auditing, financial advisory services, risk consulting, corporate governance, regulatory compliance and strategic business transformation.

Over the years, he has advised major institutions across the financial services, infrastructure, healthcare, consumer goods, energy and public sectors, earning a reputation as one of Africa’s leading governance and financial reporting experts.

The Presidency noted that Elebute has also made significant contributions to national economic policy and regulatory reforms through his participation in various public-sector initiatives, including committees established to support banking sector consolidation and corporate governance reforms in Nigeria.

The Financial Reporting Council of Nigeria, established to regulate accounting, auditing, actuarial practice, valuation standards and corporate governance in the country, plays a critical role in safeguarding market integrity and protecting investors.

The Council is responsible for setting and enforcing financial reporting standards while ensuring compliance with corporate governance principles across both public and private sector institutions.

According to the statement, Elebute’s appointment comes at a crucial period as the Council advances key institutional reforms and strengthens ongoing engagements under the United Kingdom–Nigeria Enhanced Trade and Investment Partnership, a framework designed to improve trade, investment and regulatory cooperation between both countries.

The Federal Government expressed confidence that Elebute’s extensive experience, leadership credentials and deep understanding of corporate governance would strengthen the Council’s regulatory mandate and support the implementation of President Tinubu’s Renewed Hope Agenda.

The administration said the appointment is expected to further enhance transparency, accountability and investor confidence in Nigeria’s financial and corporate reporting environment as the country seeks to attract greater domestic and foreign investment.