The Financial Reporting Council (FRC) has lifted the three-month suspension it imposed on Abel Onyeke, a partner at Nexia Agbo Abel & Co.The Council lifted the ban following a “rigorous review” conducted by it, which invalidated concerns that prompted Onyeke’s temporary suspension.

Conveying the clearance of Onyeke, a letter signed by Executive Secretary/Chief Executive Officer, Dr Rabiu Olowo dated March 20, 2025, stated: “Financial Reporting Council (FRC) of Nigeria is pleased to announce that the investigation into Mr Abel A. Onyeke’s audit engagements has been concluded. Following a thorough quality review of the firm and its engagements, it has been determined that the issues which led to Onyeke’s suspension were not pervasive in other audit engagements reviewed by our team, and all identified concerns have been satisfactorily resolved.

As a result, the Council hereby lifts the three-month suspension imposed on Abel Onyeke, as communicated in our letter dated May 28, 2024. This decision restores all rights and privileges associated with his registration with the Council.”

Responding to the FRC’s lifting of suspension in a statement, Managing Partner, Nexia Agbo Abel & Co, Mr. Alexander Kofi Peddler, said the review process by FRC showed that all identified issues had been satisfactorily addressed, and that neither Mr Onyeke nor Nexia Agbo Abel & Co. faced any penalties as a result.