The Financial Reporting Council of Nigeria (FRC) is rolling out new actuarial regulations aimed at improving financial reporting standards and boosting investor confidence.The initiative, highlighted at a Lagos stakeholder meeting, seeks to address weaknesses in risk calculations that undermine reliable financial data.

Rabiu Olowo, FRC’s executive secretary, emphasized that the framework blends international principles with local economic realities, particularly for sectors like insurance, pensions, and healthcare.

The Nigerian Actuarial Development Programme (NADP) is also gaining traction, aiming to tackle the shortage of risk management experts by updating university curricula and promoting early career awareness.

Industry leaders stress that developing actuarial talent must start from education systems, with collaboration between regulators, institutions, and ministries.The event concluded with a commitment to finalize regulations that will establish Nigeria as a financially stable hub aligned with global benchmarks.