Nigeria halts implementation of controversial regulation on businesses

The federal government has announced a temporary pause in the implementation of a contentious regulatory framework introduced by the Financial Reporting Council of Nigeria (FRCN).

The decision is part of the move aimed at easing tensions with the organised private sector and restoring investor confidence.

The decision, announced by Minister of Industry, Trade and Investment, Jumoke Oduwole, on Wednesday, follows weeks of growing discontent over recent amendments to the FRCN’s levy…