Sanwo-Olu Commissions New FRC Headquarters in Lagos

Lagos State Governor, Babajide Sanwo-Olu, has commissioned the new permanent headquarters of the Financial Reporting Council of Nigeria (FRC) on Allen Avenue, Ikeja.

Sanwo-Olu disclosed this in a statement posted on his official X handle on Tuesday, September 1, 2026, describing the eight-storey building as a significant development for the council after more than four decades of operating from rented premises.

The governor said strong institutions require solid foundations, stressing the importance of the FRC’s role in ensuring transparency, protecting investors and strengthening confidence in Nigeria’s financial system.

“Strong institutions need a solid foundation. Businesses need clear rules, investors need confidence, shareholders need protection and the public needs to trust that our financial systems are transparent and well regulated,” Sanwo-Olu said.

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He noted that the FRC’s presence in Lagos was appropriate given the state’s position as Nigeria’s leading business centre and the concentration of businesses regulated by the council in the state.

“Having its headquarters in Lagos makes solid sense. Lagos remains the country’s leading business centre and many of the businesses the Council regulates are based here,” he said.

According to him, the new headquarters would strengthen the council’s oversight functions while creating more opportunities for professionals in the accounting and consulting sectors.

Sanwo-Olu said the growth of Nigeria’s economy must be matched by the development of its institutions, urging the FRC to use its new permanent base to respond more effectively to emerging challenges.

“With this new base, I expect the FRC to act faster on emerging challenges, and engage closely with businesses while raising the bar for corporate governance in Nigeria,” he said.

The governor also expressed confidence that the new headquarters would further position the council to carry out its regulatory responsibilities and contribute to improved corporate governance in the country.