IAS 29 should not be used for 2025 financial statements  —  FRCN

•Says Nigeria not yet hyperinflationary economy  By Elizabeth Adegbesan  The Financial Reporting Council of Nigeria, FRCN, has advised that the IAS 29: Financial Reporting in Hyperinflationary Economies should not be applied to prepare financial statements for the 2025 financial year.According to FRC, the advice is based on its January 2025 position which sees the country’s economic outlook on a positive side hence not yet hyperinflationary.The Council disclo