The United Kingdom’s Financial Reporting Council (FRC) has begun examining alleged accounting irregularities involving Manchester City following findings that the club breached Premier League financial regulations.....KINDLY READ THE FULL STORY HERE▶

The regulator confirmed that it took over the matter from the Institute of Chartered Accountants in England and Wales on September 30.

According to the BBC, the FRC disclosed the development in a letter sent to the House of Commons Business, Culture, Energy and Sport Committee on Tuesday.

Although the council has not formally opened an investigation, it is reviewing the case to determine whether further regulatory action is warranted.

The development follows a ruling by an independent commission that found Manchester City guilty of charges relating to breaches of Premier League financial rules between the 2009/2010 and 2017/2018 seasons.

The commission concluded that the club had artificially inflated its financial position by more than £900 million.

Manchester City, however, is appealing the ruling, arguing that it contains “material errors of law, principle and fact and is unsafe.”

The FRC has broader powers and greater resources than the previous regulatory body, enabling it to examine whether BDO, the club’s auditors, conducted its work in accordance with professional standards.

The council can also impose disciplinary sanctions on directors, employees and other individuals subject to the rules of professional accountancy bodies.

The independent commission had previously concluded that Manchester City gave a “misleading impression” about an arrangement allegedly used to conceal the origin of shareholder funds.

It further found that the arrangement had left the club’s auditors unaware of the alleged scheme.

BDO, the United Kingdom’s fifth-largest accounting firm, is a prominent provider of auditing services in football and has advised more Premier League and Championship clubs than any other accounting firm.

Meanwhile, Liam Byrne, chairman of the House of Commons Business Select Committee, has questioned whether the FRC has sufficient powers to hold companies and their directors accountable.

In a post on X, Byrne said the regulator’s letter highlighted gaps in its authority, particularly its ability to compel Manchester City to provide evidence and pursue directors who fall outside its disciplinary jurisdiction.

“The regulator’s letter exposes gaps in its ability to compel evidence from the club and pursue directors who fall outside its disciplinary rules,” Byrne wrote.

He added that the situation raised serious questions about the powers available to hold companies and their directors accountable.

Byrne also called on the government to explain why proposed reforms intended to address the gaps had been abandoned and what measures would now be taken to strengthen accountability.

The Young Progressives Party (YPP) presidential candidate, Peter Agada, has challenged President Bola Tinubu of the All Progressives Congress (APC), African Democratic Congress (ADC) candidate Atiku Abubakar, and Nigeria Democratic Congress (NDC) flagbearer Peter Obi to present practical and achievable plans for Nigerians ahead of the 2027 general election.....KINDLY READ THE FULL STORY HERE▶

Agada issued the challenge on Wednesday during an interview on Arise Television’s The Morning Show, where he criticised the country’s political campaign culture, arguing that candidates often make promises without explaining how they intend to fulfil them.

According to the YPP candidate, political campaigns in Nigeria have become more about impressive speeches than presenting clear strategies for addressing the country’s challenges.

He blamed persistent governance failures on elected officials who spend much of their time identifying problems and setting up committees instead of implementing concrete programmes to address them.

Agada insisted that candidates promising job creation, improved healthcare and economic recovery must explain how and when they intend to deliver on those commitments, supported by clear targets and figures.

“For decades, political campaigns in Nigeria have been treated like poetry contests.

“I challenge my fellow presidential candidates; Tinubu, Atiku and Peter Obi to present their plans for Nigerians,” he said.

The YPP flagbearer also criticised the lack of coordination among government agencies, saying it had contributed to the abandonment of projects and the failure of some public infrastructure to serve its intended purpose.

Using the healthcare sector as an example, Agada argued that constructing a hospital without providing essential facilities such as access roads, electricity and water would prevent it from delivering effective services to the public.

He maintained that candidates should go beyond campaign promises and demonstrate how their proposed policies would translate into tangible improvements in the lives of Nigerians.

Ondo State Governor, Lucky Aiyedatiwa, has said the late Afenifere leader, Pa Reuben Fasoranti, deserves to be celebrated rather than mourned, describing his life as one filled with remarkable achievements and lasting contributions to society.....KINDLY READ THE FULL STORY HERE▶

Aiyedatiwa noted that despite attaining the age of 100, the elder statesman remained mentally alert and continued to influence government decisions through his wisdom and experience.

Fasoranti, a prominent leader of the pan-Yoruba socio-political organisation Afenifere, died at the age of 100.

The governor made the remarks during a condolence visit to the deceased’s residence. His Chief Press Secretary, Prince Ebenezer Adeniyan, disclosed this in a statement issued on Tuesday.

Aiyedatiwa said he was shocked by the news of Fasoranti’s death, despite the elder statesman’s advanced age, stressing that his continued involvement in public affairs demonstrated his mental sharpness.

“Even at that age, Baba was still influencing decisions of government. That is to tell you that he was still mentally sound,” the governor said.

He described Fasoranti as an outstanding educator whose influence extended across generations, noting that many people he mentored had grown into prominent figures in different parts of the world.

According to the governor, the elder statesman lived a fulfilled life worthy of celebration, adding that his passing offered an opportunity to appreciate God for his contributions to humanity.

“We cannot but celebrate his life and times. We are not mourning. We are just celebrating and thanking God for a life that was well lived,” he stated.

Aiyedatiwa also praised Fasoranti’s humility, kindness, calm disposition and ability to develop ideas and translate them into practical achievements.

The governor observed that the elder statesman died peacefully without enduring the prolonged illnesses and frequent hospital visits often associated with old age.

“He slept, and that was it,” he said.

He prayed that members of Fasoranti’s family and others who looked up to him would sustain his legacy by following his example and continuing to contribute positively to society.

Meanwhile, the Secretary to the Ondo State Government, Dr Taiwo Fasoranti, expressed appreciation for the governor’s visit, saying the family had also chosen to celebrate their patriarch’s life rather than grieve over his death.

Taiwo disclosed that his father often told family members he had a covenant with God to live until the age of 100. He said the late elder statesman repeatedly instructed them not to cry when he eventually passed away.

“We are not mourning Baba. We are rejoicing. Baba has left us a big pair of shoes to step into, but we can only thank God for the legacy of firmness, resilience, hard work and love that he left us with,” he said.

The SSG described his father as a devoted parent who remained actively involved in his children’s lives from their elementary school years through university.

He added that the family would miss Fasoranti’s presence and counsel, describing him as a man who spoke sparingly but always communicated his message effectively.

Taiwo appealed to the public to pray for the family as they cope with the loss and confront the challenge of carrying forward the legacy left by the late patriarch.

The governor’s delegation included Deputy Governor Dr Olayide Adelami; Chief of Staff, Prince Segun Omojuwa; Head of Service, Chief Segun Odusanya; and Abiola Mankinde, who represents Ondo East/Ondo West Federal Constituency in the House of Representatives.

Members of the State Executive Council also accompanied the governor, alongside former Deputy Governor Alhaji Abdulazeez Oluboyo, the Olu of Ilu Abo, Oba Olu Falae, and the Iresi of Osi, Oba Samuel Olajide Okunato.

Others present included Akure South Local Government Chairman, Gbenga Fasua, and Afenifere chieftains Chief Femi Aluko and Chief Korede Duyile.