Tinubu Appoints Kunle Elebute Chairman Of Financial Reporting Council Board

June 19 () — President Bola Ahmed Tinubu has appointed former KPMG Chief Executive Officer and ex-Chairman of KPMG Africa, Kunle Elebute, as the Chairman of the Governing Board of the Financial Reporting Council of Nigeria.

The appointment was confirmed on Thursday in a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, who said Elebute’s emergence comes at a critical time as the Federal Government intensifies economic reforms to improve transparency, accountability, and competitiveness within the nation’s financial system.

According to the Presidency, Elebute is bringing decades of professional experience spanning auditing, financial advisory services, corporate governance, and business consulting, making him one of the country’s most experienced private sector figures to assume leadership of the financial regulatory institution.

Widely respected within Nigeria’s corporate and financial services sector, Elebute previously served as the Chief Executive Officer of KPMG Nigeria before rising to become the Chairman of KPMG Africa, where he supervised strategic operations and governance frameworks across the multinational firm’s network on the continent.

During his extensive professional career, he also served on several regional and global boards within KPMG’s international structure, including membership of the firm’s Global Board Audit Committee, where he played significant roles in audit oversight, governance policy formulation, and financial accountability systems.

The Presidency stated that his appointment comes as the Financial Reporting Council advances several strategic institutional reforms designed to strengthen Nigeria’s corporate reporting framework and align domestic financial governance systems with evolving international standards and best practices.

Part of the ongoing reform process, government officials said, includes strategic engagements under the UK-Nigeria Enhanced Trade and Investment Partnership, an initiative expected to improve regulatory systems, deepen investor protection mechanisms, and boost Nigeria’s attractiveness to international capital flows.

President Tinubu expressed confidence that Elebute’s extensive leadership experience and deep understanding of global financial governance architecture would strengthen the council’s mandate and accelerate reforms targeted at improving market transparency and institutional accountability.

The Financial Reporting Council of Nigeria serves as the nation’s primary regulatory agency responsible for setting and enforcing standards relating to accounting practices, auditing systems, actuarial services, valuation procedures, and corporate governance compliance across both public and private institutions.