FRC fines NIMASA N.5b, suspends DG, Director over violation of financial reporting standards
The Nigerian Maritime Administration and Safety Agency (NIMASA) has been sanctioned by the Financial Reporting Council of Nigeria (FRC) for violating government’s rules in financial reporting. The council has not only asked the maritime regulatory agency to pay an infringement fine of N500 million, it’s Director General, Dr Bashir Jamoh has been suspended from certifying any financial records in Nigeria. …