Tinubu Appoints Ex KPMG Chief Elebute as FRCN Chair

President Bola Tinubu has appointed former KPMG Nigeria Chief Executive Officer, Kunle Elebute, as Chairperson of the Governing Board of the Financial Reporting Council of Nigeria.

The appointment was announced on Thursday in a statement issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

According to the statement, the appointment is part of the Federal Government’s effort to strengthen corporate governance, improve investor confidence, and deepen transparency and accountability in Nigeria’s financial reporting system.

The Financial Reporting Council of Nigeria is responsible for setting and promoting financial reporting standards, corporate governance guidance, and the reliability of financial disclosures by public interest entities in the country.

The Council also plays a role in improving the quality of accounting, auditing, actuarial, valuation, and corporate governance practices in Nigeria.

Elebute will chair the governing board of the Council, which provides oversight and policy direction for the agency.

His appointment comes at a time when Nigeria is paying closer attention to corporate reporting, audit quality, investor protection, and transparency in financial statements.

Who is Kunle Elebute?

Kunle Elebute is a chartered accountant and financial management consultant with more than four decades of professional experience.

He has worked across Nigeria, West Africa, Sub Saharan Africa, and global markets, with experience in audit, advisory, corporate governance, financial management, business transformation, and risk consulting.

Elebute previously served as Senior Partner and Chief Executive Officer of KPMG Nigeria.

He was elected Senior Partner and CEO of KPMG Nigeria in 2016. He later became Chairman of KPMG Africa in 2017 and held the position until his retirement from the firm in September 2022.

During his career at KPMG, Elebute held senior leadership roles in Nigeria and across Africa. His work covered professional services, audit, advisory, transaction support, public sector reform, private sector consulting, and financial management.

He qualified as a chartered accountant in 1986 and was admitted as a partner at KPMG in 1996.

After leaving KPMG, Elebute continued to serve in board and advisory roles. He has been associated with corporate governance, institutional leadership, financial advisory, and management consulting.

The Presidency described him as a distinguished professional with broad experience in financial management and corporate leadership.

His new role at the Financial Reporting Council places him at the head of the board of one of Nigeria’s key institutions for financial reporting oversight.

The Council is expected to continue working with regulators, professional bodies, listed companies, public interest entities, investors, and other stakeholders to strengthen financial reporting and governance practices in Nigeria.