A former Managing Director/Chief Executive Officer of the Nigerian Deposit Insurance Corporation (NDIC), Hassan Bello, has charged professional accountants in the country to embrace digital tools in line with technological disruption impacting professions and to remain relevant to national development.

Bello called on the government and organisations to create information, communication and technology friendly environments to enhance growth of technology and artificial intelligence adoption in Nigeria.

Bello spoke at the 77th induction of 1,993 new professional members of the Institute of Chartered Accountants of Nigeria (ICAN) in Lagos.

He acknowledged that the accounting profession in Nigeria has traditionally relied on normal processes and paper-based systems. However, with the rapid advancement in digital technologies, such as cloud computing, artificial intelligence and data analysis, he said, the profession is undergoing a major transformation to the delight of practitioners.

“We have seen the increased demand for tech-savvy accountants within the public and private sectors. New remote work is also gaining momentum. It puts us in a good and balanced position, as well as elevating our capabilities in blockchain and artificial intelligence to deliver quality services to clients,” Bello said.

Speaking on ‘Nigerian accountants and digitalisation’, he said the profession now goes beyond simply replacing paper with computers. Digital tools, he pointed out, help accountants move from manual reporting to higher-value financial analysis and advising services.

“Protecting financial data becomes critical. Accountants therefore need to understand multiple authentication, password security, backup systems, salaries and others.

Accountants need to digitalise because modern business and finance increasingly depend on speed, accuracy, compliance, and real-time information. Digitalised accounting systems reduce human errors from manual calculations and data engineering, and enhance the accuracy, timeliness, reliability of financial reports, and by extension, the quality of financial reporting,” he said.

Bello who was the Special Guest of Honour expressed concerns about challenges that are slowing down the full-blown implementation of digitalisation in Nigeria. These, according to him, include worldwide infrastructure gap, especially the challenges with electricity and Internet connectivity, server security, and lack of digital cities. He lamented that many accountants lack adequate training in modern technologies.

President of ICAN, Dr Haruna Yahaya, said the Institute is confident that the professional examination process has been completed by the new members, imbued in them the competence, discipline, and analytical sharpness needed to excel. He stressed that they need to reflect on the exceptional quality of the training and maintain the highest level of professional standard throughout their career.

“As national accountants, you will now have access to delicate and highly sensitive financial information, which will lead to various events and responsibilities. You must exercise absolute confidentiality, sound judgments, and maturity in handling such information, ” he said.

He cautioned that a single carelessness of disclosure could lead to great financial, legal, and commercial consequences.

The ICAN President further advised the professionals to build the highest standard of professionalism as the world continues to evolve, driven by technology, innovation, and global integration. This advancement, he noted, not only offers opportunity but also introduces complex technical and professional challenges.

“Let the discipline of accuracy, integrity, accountability, and sound judgments guide you as you navigate the digital era. Do not merely process transactions at a brief value, do not merely prepare reports and share them socially and do not merely look for opportunities but build expertise that makes opportunities more unique, ” Yahaya said.

The Institute’s Vice President, Queensley Seghosime, said the induction of the professional members marks the beginning of a lifelong commitment to integrity, excellence, and service, and expressed confidence that the inductees will uphold the values of the accounting profession and make the Institute proud.

The forum attracted presentations of prizes to members who distinguished themselves in the various examination diets/subjects of the Institute.