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The Financial Reporting Council (FRC) of Nigeria has announced a free Business Integrity Certification programme for Small and Medium Enterprises (SMEs), available until March 2026, to promote transparency and ethical business practices across the country.
According to the Council, the initiative is designed to help SMEs align with best practices in corporate governance, anti-corruption standards, and responsible business conduct. The certification will enable qualifying businesses to demonstrate compliance with ethical frameworks that boost investor trust and improve access to financing.
FRC said the programme was developed in collaboration with development partners and regulatory bodies focused on strengthening Nigeria’s business environment. The certification process will include evaluation of company policies, governance structure, and financial reporting integrity.
By offering the certification free of charge, the Council aims to eliminate cost barriers that often discourage smaller enterprises from adopting governance reforms. SMEs that complete the process will be added to a public registry of certified ethical businesses, a move expected to increase their visibility to investors and partners.
The Council explained that the initiative supports the National Anti-Corruption Strategy and the government’s efforts to promote accountability and good governance. It also aligns with Nigeria’s commitment to the United Nations Sustainable Development Goals, particularly Goal 16, which emphasizes strong institutions and transparency.
Analysts believe this step could transform how small businesses operate in Nigeria’s increasingly competitive economy. With integrity certification, companies can differentiate themselves in both local and international markets while reducing reputational risks.
The programme’s rollout is part of FRC’s broader strategy to strengthen financial reporting and corporate culture among SMEs, which make up more than 90% of Nigeria’s business landscape. The Council has urged all qualifying enterprises to seize the opportunity before the March 2026 deadline.
Industry experts say that as global investors increasingly prioritize environmental, social, and governance (ESG) standards, initiatives like this will play a critical role in positioning Nigerian SMEs for sustainable growth.