FRC Insists Nigeria Not Yet Hyperinflation Economy

The Financial Reporting Council of Nigeria (FRC) on Wednesday pointed out that Nigeria was not yet a hyperinflation economy. A statement signed by its Exec­utive Secretary/Chief Executive Officer, Dr. Rabiu Olowo, noted that the International Account­ing Standard (IAS) 29, which borders on Financial Reporting in Hyperinflationary Economies should not be applied in the prepa­ration of […]