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Tag: ANAN

  • ANAN president kicks against naira devaluation

    ANAN president kicks against naira devaluation

    •Foreign reserves drop to $30.1b

    The Association of National Accountants of Nigeria (ANAN) President, Anthony Nzom, has advised the Federal Government not to further devalue the naira.

    He spoke against the backdrop of ongoing arguments on the fate of the naira. “We have to be careful about further devaluation of the naira, especially when people outside the country are encouraging us to do certain things,” he said.

    Nzom spoke after a forum with ANAN Walk Against Corruption for a Healthier Economy and Longevity as its theme. More than 2,000 members of the association participated at the forum.

    “Further devaluation of the naira in the interest of who? He asked rhetorically. He recalled that in the 1990s, the naira was exchanging at N80 to a dollar, saying today, the naira had been further devalued. He suggested that to fight corruption, no Nigerian should have a foreign account, adding that there should be no undergraduate studies abroad.

    On the Treasury Single Account (TSA), the ANAN president said those giving excuses about the TSA did not want to accept change. “Change is the only thing people do not accept. People want to see if government will soft-pedal. ‘These are people with hidden accounts here and there,’’ he said.

    According to him, the TSA does not stop agencies from paying salaries. “Let us see how, when and who the monies are going to. I support what the government is doing,’’ Nzom said. He said President Muhammadu Buhari could not alone fight corruption, adding that everybody should be involved.

    He also called for a reduction in food importation, saying Nigeria was blessed with various foods. He also spoke about elimination of tribal differences, adding that people could use such attitude to corner the financial resources of the nation.

    The ‘Health Walk’, he said, showed that the association was improving yearly. “We would carry that improvement to our places of work and build that strong team expected of accountants and resist any temptation. If we do this occasionally, we would have good health, ’’ Nzom said.

    Meanwhile, the foreign exchange reserves fell to $30.13 billion by October 27, down 0.84 per cent from a month ago, the Central Bank of Nigeria (CBN) data showed at the weekend.

    Foreign reserves were down 22.43 per cent year-on-year from $38.86 billion a year ago, the data showed. The fall in reserve resulted in the sale of dollars by the CBN to defend the naira, which has been hit by the plunge in oil prices.

  • ANAN donates 300,000 Accounting books, cash to varsity

    ANAN donates 300,000 Accounting books, cash to varsity

    Association of National Accountants of Nigeria (ANAN) has donated 300,000 books and an undisclosed amount of money to Paul University, Awka in Anambra State ahead of the institution’s accreditation exercise this month.

    The books, according to ANAN, cover all the relevant topics in accountancy from year one to final year.

    National president of the association, Tony Nzom, represented by the registrar, Dr Michael Ayeni, said the gesture was part of the association’s efforts to advance the science of accountancy in Nigerian universities.

    “There was need to fill the lacuna in the dearth of literatures in the course,” he said.

    He added that the books would go a long way to help the institution’s Accountancy Department pull through the accreditation exercise.

    In his remarks, the Vice-Chancellor, Prof. Uche Isiugo-Abanihe, said he was overwhelmed by the kind gesture shown the university by the association.

    “With this donation, there is no way the Department of Accountancy will fail the accreditation next month,” he said.

    He praised the Head of the Department, Levi Ezeaku, an associate professor, for playing a key role in facilitating the donation.

  • ANAN presents books to EKSU, College

    ANAN presents books to EKSU, College

    The study of Accountancy has received a boost at the Ekiti State University, (EKSU), Ado Ekiti and the College of Education, Ikere Ekiti with book donations by the Association of National Accountants of Nigeria (ANAN).

    The donations to the two state-owned institutions was a fulfillment of the promise made by the immediate past ANAN President, Dr. Shakirudeen Labode, when he paid courtesy visits to their managements two years ago.

    Although Labode had finished his tenure, his successor, Mr. Anthony Nzom, ensured that the promise was fulfilled to expand the scope of learning and studying of Accountancy.

    Nzom was represented at the event by Dr. Michael Ayeni, who was also accompanied by other top officials of the body, including the ANAN Chairman in Ekiti State, Mr. Femi Olatilu.

    Their first port of call was the College of Education, Ikere Ekiti, where the ANAN team was received by the Provost, Prof. Francesca Aladejana who was represented by her Deputy Dr. Olu Atunramu.

    Nzom who said the books were donated to advance the science of Accountancy as a branch of knowledge, explained that the items are very current and would enrich the college library.

    He explained that the books would not only help students acquire knowledge but assist them to develop the skills needed to practise Accountancy as a profession by the time they leave school.

    Responding, Aladejana described the books as the ‘best gifts’ that could be given to the college at a time which coincides with the institution’s preparation for another round of accreditation. Aladejana hopes the books would not only be useful to students but also lecturers.

    At EKSU, the ANAN team was received by the Vice-Chancellor, Prof. Oladipo Aina, who was represented by his Deputy (Development), Prof. Olufemi Adeoluwa.

    Nzom told Aina that ANAN operates a collegiate system through which its members are trained and examined to ensure that they blend their knowledge with skills.

    He revealed that ANAN admits students after they might have adapted with either a Bachelor of Science or a Higher National Diploma (HND) in Accounting before they undergo training for nine months.

    He added: “We do not believe in half-baked accountants because we have our members working in your university here and you can attest to their efficiency and competence.

    “Students should not turn the books to mirror; we want them to find treasures in these books for them to acquire knowledge.”

    He promised that the books would further enhance knowledge of students studying Accountancy in the university. He said the university library is undergoing renovation to make it more conducive to learning and convenient for students.

    By ANAN’s gesture, Aina said the body is giving good legacies to be enjoyed by the future generation, especially in Accounting.

  • ANAN gets new president

    ANAN gets new president

    The Association of National Accountants of Nigeria (ANAN) has appointed Anthony Nzom as its new president for the next two years.

    Nzom promised to promote  research in Natural Capital and Peace Accounting; Small and Medium Enterprises/Practice and physical and infrastructural development.

    He noted that capacity building for workers both locally and internationally would be given priority. The new ANAN chief also promised to strengthen the activities of the association’s branches and work more closely with the Nigerian capital market.

    “We must support the Federal Government in the task of national development, aid the Africa Union in charting continental agenda for growth  and boost accounting and financial management in the region,” he said.

    He said the admission of ANAN into the IFAC encourages it to stand committed to work in partnership with the ICAN, the continental body, the PAFA and the sub regional body ABWA to promote international best practices in accounting, auditing, education, ethics and good governance

    He said he would employ an all-inclusive leadership approach to good governance by deploying all available resources within reach- the staff, Council members, Past Presidents, Governments in Nigeria and international institutions.

    “We must hone our skills and develop our practices in the four main strata of the profession – Accounting Education, Public Practice, Industry and Commerce (that is private sector practice) and the Government,’’ the new ANAN chief said.

    According to him, this is the time to stand up and be counted in our struggle for greatness and enduring relevance in Nigeria, Africa and well beyond.

    “Today, the rules of engagement are fast changing for the emerging professional accounting organisation (PAO) of our dreams- International Financial Accountants and Edinburg Group which are fast becoming part of our everyday vocabulary in ANAN. As ANAN basks in the euphoria of her new found international recognition, necessity is placed on the association to sustain and improve the tempo of her development,” he said.

  • ANAN gets new president

    ANAN gets new president

    The Association of National Accountants of Nigeria (ANAN) has appointed Anthony Nzom as its new president for the next two years.

    Nzom, in his acceptance speech,  promised to promote  research in Natural Capital and Peace Accounting; Small and Medium Enterprises/Practice and physical and infrastructural development.

    He noted that capacity building for workers both locally and internationally would be given priority. The new ANAN chief also promised to strengthen the activities of the association’s branches and work more closely with the Nigerian capital market.

    “We must support the Federal Government in the task of national development, aid the Africa Union in charting continental agenda for growth  and boost accounting and financial management in the region,” he said.

    He said the formal admission of ANAN into the IFAC encourages it to stand committed to work in partnership with the ICAN, the continental body, the PAFA and the sub regional body ABWA to promote international best practices in accounting, auditing, education, ethics and good governance

    He said he would employ an all-inclusive leadership approach to good governance by deploying all available resources within reach- the staff, Council members, Past Presidents, Governments in Nigeria and international institutions. “We must hone our skills and develop our practices in the four main strata of the profession – Accounting Education, Public Practice, Industry and Commerce (that is private sector practice) and the Government,’’ the new ANAN president said.

    According to him, this is the time to stand up and be counted in our struggle for greatness and enduring relevance in Nigeria, Africa and well beyond.

    “Today, the rules of engagement are fast changing for the emerging professional accounting organisation (PAO) of our dreams- International Financial Accountants and Edinburg Group which are fast becoming part of our everyday vocabulary in ANAN. As ANAN basks in the euphoria of her new found international recognition, necessity is placed on the association to sustain and improve the tempo of her development,” he said.

  • ANAN worries over naira slide

    ANAN worries over naira slide

    The Association of National Accountants of Nigeria (ANAN) has expressed worry over the decline of the the Naira, saying the development is unhealthy for the economy.

    Its President, Dr. Shakiru Labode, who stated this yesterday at the opening of the first session of 2015 Mandatory Continuing Professional Development (MCPD) programme  at Afe Babalola University,  (ABUAD). Ado-Ekiti,  urged the Federal Government through the Central Bank of Nigeria (CBN) to take urgent steps to stem the naira decline by introducing measures that would bring about stability in the currency.

    The event was declared open by Governor Ayo Fayose, who was represented by his deputy, Dr. Kolapo Olusola.

    Labode said the crash of the Naira in the international money market could be attributed to the slide in oil prices, pointing out that it is unhealthy for the government of Nigeria to depend on oil which, according to him, accounts for over 80 per cent of Nigeria’s export earnings and 70 per cent of government revenue.

    Labode advised that Nigeria should look inwards and pay more attention to other key sectors of the economy to generate the much needed foreign exchange.

    Other sectors the ANAN chief urged the government to focus more attention on, are solid minerals and agriculture, regretting that lip service is being paid to the non-oil sector which has boxed the country into a tight corner.

    Earlier in his speech, ANAN Chairman in Ekiti State, Emmanuel Olatiilu, urged the state government to approve the placement of members of the association on the appropriate grade levels and cadres immediately after their induction as a Certified National Accountant (CNA).

    Declaring the programme open, Fayose assured all the requests of ANAN would be looked into. He also advocated the establishment of an outreach centre of the Nigeria College of Accountancy in the state.

  • ANAN lauded for joining IFAC

    Former President Olusegun Obasanjo has commended the Association of National Accountants of Nigeria (NAN) for attaining full membership of the International Federation of Accountants (IFAC).

    Obasanjo made the remarks while receiving the President of ANAN, Alhaji Sakiruden Labode and some council members at his residence in Abeokuta.

    He described the association as very committed to the accountancy profession, adding that the association was also living up to its responsibility of setting standards in the accountancy profession.

    He commended the efforts of Labode in leading the association to attaining the IFAC membership. The former president said this was an affirmation of approval of ANAN as a professional body by the government.

    Labode said the association would continuously be dedicate din tis quest for quality service delivery by professional Accountants in the country. Also, ANAN donated an Accountancy Research Centre, Linking Accountancy with Business of Developing Economies (LABODE) to the Federal University of Agriculture, Abeokuta (FUNAAB)

    The Vice-Chancellor, Prof. Olusola Oyewole described the research centre as the first of its kind in FUNAAB College of Management Sciences and a significant stride in Accountancy knowledge and development.

    Oyewole urged other multi-national organisations to emulate ANAN. Labode in his address, said the commissioning of the centre was in line with the association’s goal of advancing the Science of Accountancy through skill and knowledge. He said the research centre would expand the frontiers of professional Accountancy in Nigeria and the world.

    ANAN also organised a long service award for 17 of its staff who served between 11and 22 years. Labode commended the staff, saying that the award was the best way of appreciating the staff for their meritorious service so that they could deliver their best.

    He said the staff played a key role in attaining the IFAC membership status. saying that human capacity development was a major asset of an organisation.

    On whistle blowing, the ANAN president said this was a duty to all Nigerians, adding that ANAN members had a duty to the nation and to the profession to show the way so that “you do not get your fingers burnt’’.

  • ANAN College trains 34,626

    ANAN College trains 34,626

    The Nigerian College of Accountancy (NCA), Jos has, since inception in 1984, produced 34,626 post-graduates, who have been inducted into the Association of National Accountants of Nigeria (ANAN) fold.

    ANAN President, Alhaji Sakirudeen Labode, who made this known at the Sixth Convocation of the  institution in Jos, said the college, which is the training arm of the accounting body, awards Post-Graduate Diploma in Accountancy.

    “The college has been waxing stronger growing from 10 students in 1984/1985 session to over 3,000 students in the current year (2013/2014). ‘The college is saddled with the responsibility of training young professional accountants with modern learning /teaching techniques,’’ Labode said.

    He said the council has decided to decentralise the college’s part-time programme in view of the security challenges in the country.

    Labode said the modalities for operating the centres were for ‘matured’ programme only.

    “We are looking forward to the state governments partnering with ANAN and state branches of the association providing adequate facilities suitable for matured programme. Where none of the above exists, individuals with sufficient capacity in terms of lecture and administrative accommodation and human resources can venture into it,’’ the ANAN president said.

    Labode said the college has a modern French Language lab and that its efforts had started yielding the desired dividends as both staff and students could communicate in French Language.

  • ANAN urges Fed Govt on budget funding

    ANAN urges Fed Govt on budget funding

    The President of the Association of National Accountants of Nigeria (ANAN), Alhaji Sakirudeen Labode has urged the Federal Government to look inwards for alternative means of funding the budget now that prices of crude oil had fallen in the international market.

    Labode made the plea at the Sixth Mandatory Continuing Professional Development Programme (MCPD) of the association held in Abeokuta.

    The ANAN chief said the country could no longer rely on the price of crude oil in the international market in preparing and financing its national budget adding that the product remains unpredictable.

    He advised that all tiers of government should reduce the cost of governance by cutting down on its recurrent expenditure. “Leakages and wastages in business of government should be blocked. Our national needs should be prioritised by appropriating funds to those sectors that will grow the economy like agriculture, rods, health, education, transportation and others,’’ he said.

    Labode said ANAN was last month, admitted into full membership of the International Federation of Accountants (IFAC) in Rome, Italy.

    He said: “The IFAC Governing Council announced the admission during her November meeting held in Rome. You will recall that ANAN was made an Associate of the World Accountancy body in December, 2012.’’

    He described the MCPD as a continuous retraining programme for members of the group aimed at enhancing their service delivery to their employers and also a key requirement of IFAC.

    “It is rotated among the six geo-political zones of the country every year, affording members the opportunity to know other parts of the country,’’ Labode said.

    According to him, the theme of this year’s MCPD is ‘Trends in Professional Practice and Regulation’’, and the sub-theme are all enriching. He said the Governing Council had given approval for the opening of Outreach Campuses of the Nigerian College of Accountancy in the six-geo political zones of the country.

  • ANAN chief urges accountants on integrity

    The President, Association of National Accountants of Nigeria (ANAN), Sakirudeen Labode has challenged accountants  on the need to exhibit integrity and professionalism in the discharge of their duties.

    Speaking in Lagos at the Presidential Dinner organised in his honour by the South West Zone of ANAN, he said such virtues will boost perception of accountants locally and internationally.

    He said the economy will also benefit from the role of accountants, when their jobs are done professionally.

    Labode said ANAN is giving priority to technical capacity building of its members to boost transparency and accountability in the economy. He said accountants need better knowledge and technical capacity to do deliver quality and professional services on the job.

    The ANAN chief noted that the association had fulfilled its national and international obligations, particularly in International Federation of Accountants (IFAC), Financial Reporting Council (FRC) among others.

    The group also embarked on a rigorous campaign against corruption and championed the whistle-blowing campaign.

    He appealed to members of the association to be upright and show reciprocal gratitude to their employers. “The nation has supported ANAN and we must show gratitude for that support. The government and the citizens of Nigeria stood by us,’’ he said.

    The ANAN Chief said the body is currently exporting accounting knowledge to key African countries. “We went global and there is a prize to pay for it. ANAN’s position in the global arena is being redefined,’’ he said.

    The ANAN president explained that at the end of the year, the association would become a full member of the IFAC. He said Chinese and other languages would soon be added to the syllabus of the Nigerian College of Accountancy (NCA), Jos, the training arm of the association, apart from French presently being thought in the college.

    Also speaking at the event, Governor Abiola Ajimobi of Oyo State urged accountants to be acquainted with International Public Sector Accounting Standards (IPSAS), adding that accountants are expected to be good record keepers of internally generated revenue.

    Ajimobi ,who was represented by the state Director of Finance and Accounts, Olaojo Adeniyi, said the dinner held in honour of an Labode  was well deserved because of his immense contributions to the accounting profession.

    Also, the Coordinating Chairman of the South West Zone of ANAN, Mrs Elemanya Ebilah said, Labode is creditably discharging his responsibilities to the association and the country.

    She said the Southwest zone of ANAN comprises of Ikeja, Lagos Mainland, Shomolu, Ogun, Oyo, Osun, Ekiti and Ondo branches in six states.