Olowo’s tenure as UNCTAD-ISAR Chair ends

The Executive Secretary/CEO of the Financial Reporting Council of Nigeria (FRC), Dr Rabiu Olowo, yesterday, formally ended his tenure as Chair of the 41st Session of the United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) at the United Nations Palais des Nations in Geneva, Switzerland.

Olowo leaves behind a legacy of global impact at the UN body as Nigeria once again affirmed its leadership in advancing global financial and sustainability reporting standards.

The ceremony, which was marked by the conduct of the elections and formal handover of the ISAR Chairmanship, constituted the conclusion of record achievements by the FRC boss.

Olowo was elected in November 2024 as the Chair of the 41st session of the UNCTAD-ISAR. The appointment was a testament to Olowo’s exceptional leadership and expertise in corporate reporting, which he had leverage in transforming and repositioning the FRC.

His emergence and successful tenure were a historic milestone of leadership at that level of global corporate reporting discourse.

In his speech at the opening of the 42nd Session of ISAR in Geneva yesterday, Olowo, while expressing appreciation to the Secretary-General of UNCTAD, Rebeca Grynspan, the ISAR Secretariat and all member states, highlighted the achievements of the global body under his leadership.

Reflecting on his tenure as chair of ISAR-41, he stressed that it was a privilege. Olowo explained: “Over the past year, our collective efforts were guided by two central priorities: Advancing the harmonisation and practical implementation of sustainability reporting, assurance and ethical standards and supporting the integration of financial and sustainability reporting through digitalisation.

“These priorities reflect our shared commitment to strengthening market trust, enhancing accountability, and supporting sustainable development. The past year has demonstrated what is possible when countries, institutions, and experts work together with a unified sense of purpose.”