Dele Kelvin Oye, chairman of the Organised Private Sector of Nigeria (OPSN) and National President of the Nigerian Association of Chambers of Commerce Industry Mines and Agriculture (NACCIMA) has commended President Bola Ahmed Tinubu and the Federal Government for the decision to step down the implementation of amended Financial Reporting Council Act.
Oye explained that the Act was amended in 2023 with outcomes that showed existential threats to businesses and private sector operators, and significantly stunts the growth of the nation’s economy.
The OPSN Chairman commended the President for listening to the OPS and setting up a stakeholders’ forum to review the amendment, which has now resulted in a decision to step aside the implementation of the Act based on the forum’s recommendations.