VP STRESSES NEED FOR RELIABLE FINANCIAL REPORTING

Vice President Kashim Shettima has said reliable financial reporting is crucial to Nigeria’s economic stability and efforts to build confidence among investors and businesses.

Shettima said accurate and transparent financial information helps governments, investors and other stakeholders make informed economic decisions.

He noted that strong financial reporting standards are important for improving accountability and strengthening trust in both public and private institutions.

According to the Vice President, credible financial information can also support investment by giving local and foreign investors greater confidence in the businesses and institutions they engage with.

He said Nigeria must continue to strengthen its financial reporting systems as part of broader efforts to improve economic governance and attract investment.

Shettima also highlighted the role of accountants, auditors and other financial professionals in ensuring that financial information is properly prepared and presented.

He stressed that financial reporting must reflect the true position of institutions and businesses to prevent misinformation and poor decision-making.

The Vice President said transparency and accountability remain important to the country’s long-term economic development.

Stakeholders in the financial sector have continued to call for stronger compliance with reporting standards and improved oversight of financial institutions and businesses.

Shettima said reliable financial reporting would help strengthen Nigeria’s economy by improving confidence and supporting better policy decisions.

He added that the country’s economic stability depends partly on institutions that can provide accurate information and operate with accountability.

The Vice President urged financial professionals and organisations to uphold high standards and support efforts to strengthen transparency across Nigeria’s economy.