The Financial Reporting Council has said the Nigeria Public Sector Governance Code (NPSGC) shall help mitigate risks such as fraud, misuse of funds, and governance failures which can lead to regulatory crackdowns or loss of confidence in public institutions.

The Executive Secretary/Chief Executive of FRC, Dr Rabiu Olowo, disclosed this at a stakeholder engagement on the draft exposure on Nigeria public sector governance code (NPSGC) In Abuja.

He noted that in a country where the public sector plays a vital role in providing social services, advocacy, and development initiatives, the draft Code will help ensure that government organizations operate with integrity and in line with best practices.

Olowo said: "This Code establishes guidelines for Board composition, financial management, sustainability practices, stakeholder engagement, diversity, equality and Non-discrimination, among other key issues, which are essential for building trust with the public at large who rely on their services."

The Draft Governance Document (Code) is part of President Tinubu's Renewed Hope Agenda on Good Governance and Anti-corruption. The object is to enhance accountability, transparency, and integrity as well as prevent conflict of interest and corruption among public sector officers.

The Code serves as a guiding framework, outlining principles and best practices for the governance of public sector organizations and public servants. Its primary objective is to ensure that the entities and their staff operate in the public interest with integrity and efficiency.

Also speaking, the chairman, Technical working Group (TWG), Danladi Kifasi, said: "the code is not an instructional book, it's a guide that you will have to practice. Professional bodies have code of ethics, The public service should have a code of ethics, so it's not going to have any conflict with any existing law. It's only adding value to it and if all of us abide by it, we may not need EFCC or ICPC to continue to police our public service institutions."