FRC Fines NIMASA N500m For Non-Compliance With Financial Reporting Standards

The Financial Reporting Council of Nigeria has imposed a fine of N500m on the Nigerian Maritime Administration and Safety Agency
(NIMASA) for non-compliance with financial reporting standards.

It also ordered the suspension, withdrawal, and restatement of the 2018 financial statement of (NIMASA) and the suspension of the FRC registration numbers of the Managing Director of NIMASA Bashir Jamoh, and Chudi Offodile.

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