Call him an accountant-author, you won’t be wrong. For Omooba Olumuyiwa Samuel Abayomi Sosanya, writing a book on the history of accountancy in Nigeria is not just a dream come true but a legacy to bequeath to future generations of accountants. EVELYN OSAGIE was at the book presentation at the Federal Capital Territory (FCT), Abuja.
TO parody the prophetic words of the great literati, Chinua Achebe, “a people who cannot tell their stories adequately are doomed to perpetual crisis of identity”.
This becomes apposite in describing the intent and purpose of renowned accountant and author, Omooba Olumuyiwa Samuel Abayomi Sosanya, who decided to pen for posterity a book on his chosen profession – accountancy.
Omooba Sosanya, who can easily be described as someone destined for greatness, with the benefit of hindsight, may have written his name in the timeless pages of history by authoring the first historical account of the foundation of accounting (no pun intended) in Nigeria.
‘’The Revolution of Accountancy Profession in Nigeria: History of the Association of National Accountants of Nigeria (ANAN)’’, which the author described as “a child of necessity”, provides insights into what led to the struggle for the liberalisation of the accountancy profession.
On November 6, 1978, Sosanya, Olalere Akanbi Kolawole and Iyiola Olufemi Odefisayo met at his 15, Mosuro Street, Abule-Oja, Yaba, Lagos Mainland home. It was to find solutions to restrictive policies that were inimical to the advancement of accountancy in Nigeria. That meeting led to a revolution in the profession that gave birth to ANAN.
The formal presentation of the book by Sosanya elicited memories last Thursday at the Shehu Musa Yar’Adua Centre, Abuja. It was an epoch-making event that drew dignitaries from across the country and Benin Republic.
Interestingly, the major dramatics personae, who participated in the struggle, were on hand to give their own accounts of how history was made. If anyone had any iota of doubt as to the justification of the establishment of ANAN, an excerpt from the book clears such doubt. It reads in part: “It was a revolution in the accountancy profession in Nigeria. Revolution is not always about gun-wielding militants and fire-spitting ideological demagogues. Our own revolution was resonating thinking that elicited ideas.”
Sosanya said the trio resolved to launch ANAN on January 1, 1979 as “a virile home-grown accountancy body, which would provide a path to a recognised professional qualification, which was of the highest international standard”. He noted that they were determined that such a body should be open to all men and women solely on the basis of education and ability.
The selfless efforts of the septuagenarian, as indicated in the treatise on accounting, were praised by all. Describing him as “a man of ideas and passion for the growth and development of the country”, guests said he is a worthy inspiration to people concerned about fighting a just cause.
The book was reviewed by The Nation columnist Segun Ayobolu. His review opened the floodgate of tributes for the uncommon achiever, with speaker after speaker describing Sosanya in affectionate terms.
Asiwaju Bola Tinubu chaired the presentation of the over 400-page, 31-chapter book.
The National Leader of the All Progressives Congress (APC), represented by Yinka Ajayi, a member of the House of Representatives, challenged Nigerians not to take their freedom for granted, stating: “Power is not served a la carte. You have to believe, you need to struggle and acquire freedom. Sosanya is a man of ideas who pursues causes he believes in with all of his heart.”
Lagos State Governor Akinwunmi Ambode, an accountant, who was represented by his Commissioner for Finance, Akinyemi Asade, also commended the resilience and industry of the author, which he said, was in itself inspiring.
The drafter of the ANAN law, Mrs Ajonu, who was then an officer with the Ministry of Justice, also paid glowing tributes to Sosanya. She recalled that apart from being meticulous and dogged about the ANAN cause, Sosanya would not give room for avoidable mistakes. “Whatever information I asked for about ANAN, Papa will have it in his briefcase, he will never have to go back to Lagos for anything. He is a yeoman’s job very boldly, with undiluted passion for ANAN,” she stated.
Mrs Ajonu, however, observed that Soasanya was someone with a grateful heart, saying: “I found it humbling that 15 years after I helped Papa on the ANAN matter and retiring in 2015 from service, Papa still remembered me and when something came on in CBN, he gave them my number.”
Other personalities at the event included members of the National Assembly, Senators, Anthony Adefuye, Rufai Anga, Gbenga Ashafa, Alh. Nasir Muhammed, who represented the Minister of Women Affairs; Republic of Benin Senior Minister Dr. Abddoulaye Bio Tchane (Guest Speaker); Chief Adolo Okotie-Eboh; Usman Naganga and Dele Oshinowo. Others included former Military President General Ibrahim Babangida, who was represented former Transport Minister, Muritala Aliyu; Dr. Abisoye Alabi; Umaru Dembo, who was the Minister of Petroleum during the regime of Gen. Sani Abacha and now Director-General, Buhari Support Group Center, among others.
The book reviewer, who regaled the audience with the exploits of the author, recalled that the motive behind the formation and survival of ANAN was purely altruistic. Sosanya, he said, was motivated by the provision of the ICAN Act, 1965 that discriminated against other accountancy qualifications and gave the Institute the monopoly of practice.
“The ICAN Act, 1965 conferred absolute monopoly of regulating accountancy profession on ICAN. Sosanya believed that this unhealthy scenario has serious negative implication for a dynamic economy like Nigeria with immense natural resources and abundant redundant manpower, whose potential must not be allowed to be caged through any sort of restrictive practice.
“For instance, between 1965 and December 1978 (13 years), ICAN succeeded in producing 55 professional accountants through its examinations. Conservatively, the Nigerian Law School produced 2,405 lawyers between 1966 and 1978 (12 years). However, with the emergence of ANAN, it produced 300 professional accountants between 1978 and 1981 (four years), which showed the benefits of competition.”
To make ANAN a reality, the reviewer posited, Sosanya sponsored a private bill before the National Assembly, where it passed the public hearing stage, despite stiff opposition mounted against its passage. The battle was fiercer in the Senate: it took 20 months after the House had passed the bill before it could be read for the second time in the Senate. This eventually led to the abortion of its journey as it could not reach the public hearing stage before the expiration of the Assembly the next day.
“However, on 25th August 1993, General Babangida signed the ANAN Decree 76 into law.
This marked the ushering in of a new more vibrant and qualitative era into the evolution of accountancy in Nigeria. ICAN did not relent in its pursuit of getting ANAN proscribed by approaching Gen. Sani Abacha to repeal the establishment Decree, rather the President congratulated the body in 1994 for the promulgation of the Decree but advised its members to demonstrate maturity as regards the attitude of a sister body,” Ayobolu said.
One of the few surviving members of the Second Republic House of Representatives gave a vivid account of the journey of the ANAN bill. Malam Sidi Ali said the battle was fierce. He said: “There were cabals that did not want the bill to see the light of day. They were bent on maintaining the status quo. We found out that there was a cabal that don’t want anyone in that profession. Why? we kept on wondering, only to find out that kind of racket in that profession. We found out that the top brass of ICAN was coming from one state. We couldn’t believe when we discovered that a Professor of Accountancy from the University of Calabar sat and failed the ICAN exam. This was a Professor that was producing accountants, how could he have failed the ICAN examination? As Chairman of the Committee treating the bill, there was a day some lawmakers told me that some eminent accountants wanted to come and visit me but I declined. I refused because there is no way anyone seeing them coming into my office or house would not insinuate that something has changed hands, and you know we were in the era of Ghana Must go. Many of us in the House believed that the fight to create ANAN was not only moral but it became a religious obligation to us. The first challenge was in the Senate but there are many who felt justice must be done.”
The high point of the day was the unveiling of the book, with some members of the Lagos State House of Assembly, including those serving at the National Assembly lending support through cash pledges. The Nation’s Evelyn Osagie, a poet, who rendered the National Anthem, thrilled guests with poetry performances, including Ibrahim Apekhade Yusuf’s “Salute to The General” in honour of the author.
