Soetan emerges ICAN president, seeks members support on anti-corruption campaign

Deacon Titus Soetan has emerged the 52nd president of Institute of Chartered Accountants of Nigeria (ICAN).

In his inaugural address, Soetan assured that he would take the institute to greater height and urge members to join government in the fight against corruption.

According to him, “as professionals and chattered accountants trained in the art and science of wealth creation, protection and management, we cannot fold our arms and stand idly by.

“We must act now to save our nation from the stranglehold of corruption as stoutly espoused by the current administration. Corruption and sharp practices are evil.

“We have the right skills and obligations to prevent them and fight the course of justice and integrity. We must lead by example and support the government to succeed in this anti-corruption crusade in the long-term interest of Nigerians and generations unborn. We must take on the gauntlet and act. If we fail to act as good men and women, evil will triumph over good. God forbid.

“It will be foolhardy to think that the spate of corruption is restricted to the public sector alone. Take for instance, the banking sector. It is incredible that 313 bank employees would conspire among themselves to steal from the banking system in 2008 a whopping sum of N53 billion which in essence represents the loss of two banks in that year, given banks minimum capitalization to N25 billion.

“Again in 2013, the banking industry, according to the CBN, lost N40 billion to internet fraud arising from the introduction of the new cashless banking in the country.

“The solution in my view lies in good, ethical leadership, strong and enforceable laws against corruption, severe sanctions for corrupt crime underpinned by a national culture of promoting ethics from the family to national levels. For the citizenry to sustain their trust in government and leaders, the public good must take precedence over the personal interest of leaders.”

On his plans for small and medium enterprises, he noted that “most SMEs do not survive beyond the first five years of existence while those that managed to survive beyond this time frame often suffer from challenges associated with succession planning.
Accordingly, efforts would be made to bring SMEs into a roundtable to educate them on how to proactively embed succession planning into their business.”

Speaking more on his plans, he noted that the institute would build more lecture theatres in institution of higher learning, collaborate with regional and international bodies, library development, members’ education and training among others.

On his part, Governor of Ogun State, Ibikunle Amosun commended ICAN for producing the president who is from Ogun State. He also expresses optimism that the president would perform satisfactorily in office.

In his valedictory speech, immediate past president, Otunba Samuel Deru said ICAN achieved a lot during his tenure. Some of these achievements, according to him include entrepreneurship initiative, international affiliation, public service seminars, fellowship award conferment, mutual cooperation with tertiary institutions, among others.