The Financial Reporting Council (FRC) says Nigeria does not qualify as a hyperinflationary economy under existing standards.

IAS 29, titled Financial Reporting in Hyperinflationary Economies, provides accounting guidelines for countries experiencing hyperinflation.

The Financial Reporting Council of Nigeria (FRC) on Wednesday pointed out that Nigeria was not yet a hyperinflationary economy.Owing to this, the Council, in a press statement signed by its Executive ...

Currently, the 2023 regulations require that a person who is found guilty of contravening the provisions of the rules for which no penalty is given, that person is liable to a fine not ...

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