Reps Seek FRC Records on CBN’s 2024 and 2025 Financial Statements

The House of Representatives has asked the Financial Reporting Council of Nigeria to provide documents and explanations relating to the Central Bank of Nigeria’s audited 2024 and 2025 financial statements. Lawmakers are seeking records on the accounting framework used, approvals obtained and regulatory processes followed before the accounts were published. The request covers both the CBN’s consolidated and separate financial statements. The scrutiny follows concerns raised about the treatment of items including the Deferred Foreign Exchange Revaluation Account, reported at about ₦13.7 trillion, the Federal Government’s overdraft and foreign-exchange gains and losses. The request does not establish any wrongdoing, but it could clarify the roles of the CBN, its auditors and the FRC in the reporting process.

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