The American Institute of CPAs and the Nigerian Capital Market Institute officially announced a strategic collaboration on Monday in Lagos to provide Nigerian Capital Market Operators with access to premier Internal Control and Enterprise Risk Management Certificate programmes.
This initiative, driven by the educational arm of the Nigerian Securities and Exchange Commission, leverages the globally recognised Committee of Sponsoring Organisations of the Treadway Commission framework to enhance the country’s financial oversight.
By offering specialised training in designing and monitoring internal controls, the partnership aims to equip finance professionals with the tools necessary to navigate a technology-driven landscape while integrating risk management directly into corporate strategy to drive performance.
“The Nigerian Capital Market Institute is proud to collaborate with the American Institute of CPAs in expanding access to globally recognised COSO programmes for businesses across Nigeria,” stated Mr Tunde Kamali, Managing Director at the NCMI, during the announcement.
“This initiative reflects our commitment to equipping market participants with the tools needed to navigate an increasingly complex and risky landscape. By deepening knowledge in internal control and enterprise risk management, we are empowering businesses to operate with greater integrity, accountability, and strategic foresight. This collaboration not only supports the advancement of our capital market ecosystem but also reinforces Nigeria’s long-term vision for sustainable economic growth and global competitiveness,” he added.
Echoing the importance of this milestone for the private sector, the Country Director–Nigeria at the Association of International Certified Professional Accountants, Ijeoma Anadozie, noted the broader implications for the national economy.
“We are pleased to collaborate with the Nigerian Capital Market Institute to provide access to the COSO programmes for businesses operating in Nigeria,” Anadozie said.
“This collaboration marks a significant step towards strengthening corporate governance and risk management across the country. By leveraging these resources, companies in Nigeria will be better equipped to tighten internal controls, enhance the accuracy and transparency of financial reporting, and foster greater investor confidence. These improvements are not only vital for business resilience and profitability, but they also contribute meaningfully to the broader economic development and financial stability of our country,” she added.
Through this partnership, Nigerian businesses are expected to significantly reduce instances of fraud, errors, and mismanagement by adopting the rigorous standards set by COSO, a joint initiative of five leading global accounting bodies. The training will focus on ensuring that internal controls are not merely administrative hurdles but are essential components of business continuity and resilience.
As the world’s largest member association representing the CPA profession, the AICPA’s involvement signals a major shift toward aligning Nigeria’s capital market standards with international best practices, ultimately protecting organisational assets and fostering a more transparent investment environment.
