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Tag: Association of National Accountants of Nigeria (ANAN)

College of accountancy gets DG

The Association of National Accountants of Nigeria (ANAN) has appointed Dr Kayode Olushola Fasua as the director-general of its training arm, the Nigerian College of Accountancy (NCA), Kwall, near Jos.

Fasua’s appointment took effect from March 1.

A letter by the Registrar/Chief Executive of ANAN, Dr Nurudeen Abba Abdullahifr, mni, said Fasua, who has over two decades of experience in the ANAN College. Before his appointment, he served as the Director of Studies of the College.

A statement in Jos yesterday by Cyril Umoh, the college’s Public Relations Officer, said: “The newly appointed director-general has been largely described and praised as the first home grown director-general of the Nigerian College of Accountancy, having also headed several departments/units of the College, besides his long service and wealth of experience in the system.

“Dr Fasua, who holds a PhD (Accounting and Finance), has many publications and presentations to his credit, locally and internationally.

“The new director-general, who also graduated from the College 23 years ago, is the first graduate of the college to head the institution within the 25 years of her existence.”

March 14, 2019
Accountants to FG: Pay attention to education

With the strike actions embarked upon by academic staff unions in Nigeria Universities and polytechnics, Association of National Accountants of Nigeria (ANAN), on Friday urged the Federal Government to pay attention to education in its human capital development strides.

Accountants made the call during the expanded National Economic Council (NEC) meeting at the Presidential Villa, Abuja.

This was contained in a copy of the contribution of ANAN President, Alhaji Shehu Ladan to the dialogue on human capital development.

According to him, basic education to improve literacy and numeracy has an important implication as a basis for human capital.

He said “We need to pay attention to all spectrum of education in the country. Higher education however is a prerequisite because it produces highly competent experts that contribute to the development of organisations and the economy at large.

“To this end, gaps and flaws of the education system need to be urgently addressed.”

He noted that the informal and adult literacy is often neglected in the country.

He also urged the government to establish special agencies with the responsibility of improving the skills and capabilities of human capital in Nigeria.

He also harped on the need for government to support individuals and advised that the government should create enabling environment for private entrepreneurship to thrive.

“The Infrastructure of a country goes a long way to define or influence the human capital development, eg, electricity, water, roads, communication networks,” he said.

He also advised the Federal Government to improve the health sector for human capital development.

According to him, only a healthy population can contribute meaningfully to the economy.

December 14, 2018
Buhari: Accounts must be given for all financial transactions

…ANAN warns President of another recession

President Muhammadu Buhari on Friday promised that his administration must render accounts of what comes into government’s coffer and what goes out.

He made the promise while receiving the leadership of Association of National Accountants of Nigeria (ANAN) who paid him a courtesy visit at the Presidential Villa, Abuja.

According to a statement by the Special Adviser on Media and publicity, Femi Adesina, the President said his administration remained focused and more energised in ensuring accountability in the country.

The enforcement of the Treasury Single Account (TSA), he said, was not optional for growth, stressing that his insistence on the financial structure required much sacrifice and focus on the part of the government since “accountability” was no longer optional.

He said “One of the cardinal objectives of this administration is that people and all government institutions must give account for what comes in and goes out.

“We did not introduce TSA, but we enforced it. TSA makes a lot of sense that you must have to give account for whatever comes in and goes out in government finance; that’s accountability.”

President Buhari urged accountants to remain focused and support the government in the ongoing fight against corruption.

He warned that they might not be liked by many people because of their professional ethics, but the sacrifice was necessary for the country to grow.

In his remarks, the President and Chairman, Governing Council of ANAN, Alhaji Shehu Usman Ladan, described the alarm over a possible relapse into recession as timely, saying that it was a wake-up call for President Muhammadu Buhari’s administration to work harder on the economy to avert it.

The association also advised the Federal Government to privatize non performing government assets and enhance regulations for the financial sector development.

He appealed to the President to control enhancement for the prevention of corruption in the public sector.

ANAN also endorsed President Buhari for a second term and urged him to develop institutions and programmes that will prevent corruption through control mechanism.

Ladan, who spoke to State House correspondents after he led the delegation on the visit said that the country’s economy was well enough to inspire ANAN’s confidence that Buhari would be able to work harder to prevent a second recession in three years.

He said “We commend the Government for bringing the country out of recession and effort to place the country on the path of sound economic growth.

Ladan also praised Buhari for diversifying the economy from oil to other sectors like agriculture; attracting local and foreign investments; empowering the youth through programmes like the N-Power Scheme; and tackling corruption in the country headlong with instruments like the Treasury Single Account (TSA).

Declaring ANAN’s support for Buhari in his speech during the visit, he said “We have no doubt that second term of your Excellency will bring more succour to the citizenry and a better economy”.

ANAN also canvassed for more recognition and appreciation of members of the association in the public service, as it had observed a bias in favour of the rival body, Institute of Chartered Accountants of the Nigeria (ICAN).

The group said “ANAN should be included in the Federal Scheme of Service where a number of professional bodies are listed for direct appointment on Grade Level 10. This is to say that ANAN should be placed on Grade Level 10 at the point of entry in the public service just like their counterparts in other professions”.

The Association further asked for rotation of positions of Chairman and Executive Secretary of the Financial Reporting Council of Nigeria between ANAN and ICAN, instead of having the latter hold both positions at same time as happened recently.

The ANAN leadership finally begged the President to “consider the appointment of members of the Association into key positions in the Government. We have many capable members that can assist the government in the formulation and implementation of its policies/programmes”.

October 12, 2018
Obaseki partners ANAN on capacity building for Edo civil servants

The Governor of Edo State, Mr Godwin Obaseki, has disclosed his administration’s plan to partner with the Association of National Accountants of Nigeria (ANAN) in the training of accountants in the state civil service to enhance productivity.

Obaseki disclosed this when the National President of ANAN, Alhaji Shehu Ladan, paid him a courtesy visit at the Government House in Benin City on Monday.

The governor maintained that the goal of his administration is to expose civil servants in the state to trainings that would increase their productivity.

“We have upgraded our software packages and have automated the accounting platform for the state. The next step is to train the accounting staff to use the technology to anchor accounting processes and procedures.

Read Also:Edo Speaker, Deputy clash over Assembly renovation

“We want to partner with you in building the capacity of a lot of our accounting staff in government,” Obaseki said.

He noted that the state government has enjoyed a good working relationship with ANAN as its members have continued to add value to accounting procedures in the state.

Earlier, the president of ANAN, Alhaji Shehu Ladan, commended the governor for the ongoing transformation of Edo State, and the appointment of ANAN members into key positions in the state.

Ladan explained that he was in the state for the association’s 3rd session of the 2018 Mandatory Continuing Professional Development Programme.

He appealed to the state government to assist the association to complete its secretariat in the state and issue a Certificate of Occupancy for the land on which the ANAN’s building is being erected.

In his response, the governor promised to look into the issue of upgrading members of ANAN in the state public service, who are still below grade level 10, as approved by the National Council on Establishment.

June 25, 2018
‘FG saves N120bn by checking ghost workers, personnel costs’

The Federal Government ( FG ) on Tuesday put the cumulative savings from checking the ghost workers’ syndrome through the Integrated Payroll and Personnel Information System ( IPPIS ) at N120 billion

Accountant General of the Federation (AGF), Mr Ahmed Idris, said this in Abuja in a presentation on the impact of financial reforms on the Nigerian economy, at the 22nd Annual Conference of Certified National Accountants.

The three-day conference, with the theme “Sustainable Economic Management in a Recession: Issues, Strategies and Options”, was organised by the Association of National Accountants of Nigeria ( ANAN ).

Idris said that the savings spanned across 10 years, from April 2007 when IPPIS became operational till date.

He said the saving was not limited to detecting ghost workers, as excess personnel cost that had been channeled to non-personnel sub-heads by Ministries, Departments and Agencies (MDAs) were also recovered.

“From April 2007 when the scheme commenced to date, 459 MDAs have been enrolled with a total number of 310,453 staff.

“Over N120 billion cumulatively saved as a result of the difference between the amount government would have released to the MDAs based on appropriation, and actual amount released and paid through IPPIS.

“By the end of this month (October), we expect to make an additional N100 billion savings after the verification and capturing of the Armed Forces,” he said.

Idris said also that the Treasury Single Account (TSA) had so far saved the government N108.1 billion in account maintenance fees and other charges that would have been paid to banks for managing the accounts of MDAs.

He said that the TSA had also eliminated the bad practice of operating several accounts by MDAs, therefore making it difficult for MDAs to divert public funds.

Idris also recalled that the Government Integrated Financial Management Information system (GIFMIS) went live in April, 2012, and as at date, it had over 300 Ministries, Departments and Agencies on the system.

“GIFMIS has helped government to increase the ability of FGN to undertake central control and monitoring of expenditures and receipts in the MDAs and facilitates access to information on financial and operational performance.

“It has also helped to improve internal controls to prevent and detect potential and actual fraud.

“GIFMIS has also strengthened governance and accountability in MDAs through efficient and effective service delivery,” he said.

Meanwhile the Executive Director of Jos Business School, Mr Ezekiel Gomos, made a presentation on “SMEs as Engine of Economic Development in Nigeria”.

He said that at present, small businesses were failing due to tough operating environment, including infrastructure, regulation, policy and taxes.

Gomos said government needed to encourage SMEs by creating business friendly laws, policies and regulations that would stimulate the latent talents that millions of Nigerians were endowed with.

To make SMEs more viable in the country, he called on the government to promote policies that would favour SMEs rather, than bigger companies.

“Nigerian SMEs cannot drive economic development in the 21st century with 20th century infrastructure. There is need to develop clusters or industrial parks with basic infrastructure for SMEs.

“Also, on access to finance, there is need to make the processes and procedures to access finance less cumbersome and complex.

“We must find innovative solutions to unlock sources of capital, while the need for SME Credit Guarantee Scheme is long overdue,” he said.

NAN

October 11, 2017
Osinbajo seeks high level of integrity by financial institutions

Vice President Yemi Osinbajo, has urged financial institutions to uphold a high level of integrity and forthrightness in the discharge of their duties.

Prof. Osinbajo made the call when a delegation from the Association of National Accountants of Nigeria (ANAN) paid him a courtesy call at the Presidential Villa, Abuja.

Osinbajo, in a statement by the Senior Special Assistant on media and publicity, Laolu Akande, said financial institutions have a crucial role to play in helping the President Muhammadu Buhari administration to fight corruption, as well as in improving the country’s economy.

He said that as a financial body, ANAN should call out individuals who are allegedly tied to some levels of financial crimes to step down from their positions, so as to help curb corruption in the financial sector.

“The level of integrity that we expect is not necessarily what we are seeing, especially in respect to financial statements and all of that,” the Vice President said.

He also commended the association for the important roles it has played in regulating the country’s financial sector since it was incorporated in 1979, adding that a high level of integrity by financial institutions would help improve the lives of citizens.

Speaking earlier, the ANAN delegation, led by its president, Alhaji Shehu Usman, praised the Buhari administration for its leadership in the affairs of the nation, the fight against corruption, insecurity and improving the economy.

The delegation appealed to the Federal Government to increase the appointments of their members into key positions in the civil service.

September 15, 2017
Invest in critical infrastructure, expert urges FG

A financial expert, Dr Samuel Nzekwe, on Wednesday urged the Federal Government to intensify efforts in investing in critical infrastructure in order to boost the productive sector.

Nzekwe made the call while speaking to the News Agency of Nigeria (NAN) in Ota, Ogun, against the backdrop of the reported drop in the country’s inflation rate from 17.26 per cent in March to 17.24 per cent in April.

NAN reports that the National Bureau of Statistics had on Tuesday said that the inflation rate dropped from 17.26 per cent in March to 17.24 per cent in April.

He said that the drop in the country’s inflation rate was as a result of the intervention of the Central Bank of Nigeria (CBN) in the forex market.

Nzekwe, a former President of the Association of National Accountants of Nigeria (ANAN), said that the decision of the CBN made it possible to defend the Naira against the dollar.

He said that this had made inflation rate come down with more people now having access to Naira.

”As long as the CBN is making forex available, the imported goods will continue to be cheaper because Naira is becoming stronger, ”he said.

The ANAN boss noted that it was not that the economy had become productive, but that some Federal Government policies, especially CBN intervention in the forex market, had started yielding positive result.

“This is not a guarantee that the economy has totally recovered from the current economic challenges,’’ he added.

He said that the peace in the Niger-Delta had made it possible for the country get more barrels of crude oil and sell at a higher price in the international market.

The development, he said, had helped to boost the nation’s forex reserve used in defending the Naira.

Nzekwe, however, described the present inflation rate as artificial because revenues generated from the sales of petroleum products were being used to bring down the inflation rate in the country.

He said that there would be crisis if the CBN could not sustain the forex market in the future as Nigeria has no control over the price of oil in the international market.

Nzekwe, however, advised that investment in critical infrastructure would make the productive sector to thrive and attract foreign direct investment that would create jobs in the country.

This development, he said, would now offer a picture of the true inflation rate as most of the goods emerging from the productive sector would be cheaper.

May 17, 2017
FG should remove hindrances, check corruption at seaports -Experts

Dr Samuel Nzekwe, former President, Association of National Accountants of Nigeria (ANAN) on Thursday advised the Federal Government to remove all hindrances delaying the clearing of goods at the seaports.

Nzekwe, who gave the advice in an interview with journalists in Ota, Ogun added that the move would boost the nation’s revenue.

“The Federal Government should make clearing of vehicles and other goods easier at the seaports because Nigeria is losing huge revenue to neighbouring countries,’’ he said.

The financial expert added that there was the need for government to look into reasons why people preferred to use the land border than the seaports.

He said that if seaports were conducive for clearing of goods, the issue of bringing vehicles through land border would not happen.

The Federal Government on Monday banned the importation of vehicles into Nigeria through land borders.

The Public Relations Officer of the Nigeria Customs Service (NCS), Mr Wale Adeniyi, said this in a statement he made available to newsmen on Monday in Lagos.

Nzekwe stressed that the ban on importation vehicles through the land borders would reduce government revenue in the short-run.

He, however, urged the government to address corruption among the customs officials, so that more funds could be generated into the nation’s treasury.

Another expert, Dr Titus Okunronmu, former Director, Budgetary Department, Central Bank of Nigeria (CBN), however, expressed concern on the ban on the importation of vehicles through land borders.

He said that the ban might not achieve its objective, considering the size of the country.

Okunronmu also stressed the need for government to tackle sharp practices among customs officials with a view to making them accountable for money collected in the discharge of their duties.

December 8, 2016