Tinubu urges accountants to promote transparency, accountability

President Bola Ahmed Tinubu has called on the Association of National Accountants of Nigeria (ANAN) to promote public integrity, accountability, and transparency in their activities as auditors who review the financial books of federal ministries, departments, and agencies of government.

Speaking at the 29th Annual National Conference of the Association of National Accountants of Nigeria (ANAN), themed: “Advancing Excellence in a Changing World,” held in Abuja, the President urged accountants to participate in the implementation of the new accounting and auditing strategy introduced for the Office of the Auditor General of the Federation, aimed at driving economic growth.

Tinubu, represented by the Accountant General of the Federation, Dr. Mrs. Oluwatoyin, noted that with the rapidly changing world of traditional accounting methods due to disruptive technology, it is imperative for ANAN to navigate the terrain by embracing digital technology to ensure accounting excellence.

He said, “In today’s rapidly changing world, and in our nation, the role of accountants has never been more critical as we navigate economic uncertainty and technological advancement. In this, accounting excellence becomes paramount. A few days ago, I unveiled the Strategic Plan 2024-2028 of the Office of the Auditor General of the Federation. ANAN members, who serve as accountants and auditors in our MDAs, should play a key role in the implementation of the strategic plan, as it will affect how you work and maintain your ledgers. As a former auditor myself, I advise you to pay attention to the plans of the Office of the Auditor General.”

The President charged accountants to use their expertise to ensure transparency, accountability, and financial stability in organizations across Nigeria. He also encouraged ANAN members to utilize the conference as a crucial platform to discuss the evolving landscape of accounting processes.

He commended ANAN for its commitment to promoting excellence in the accounting profession and for organizing the conference to promote knowledge sharing and professional development.

“The insights and best practices shared during this conference will undoubtedly contribute to the growth and success of our economy. I call on ANAN to play a major role in this administration’s transformative policies, particularly the renewal of our agenda, which aims to reposition Nigeria as a major destination for global investment and job creation.

“Accountants have a significant role to play in the evolving world dynamics of our country. Therefore, this conference provides a golden opportunity for you all to embrace new knowledge and opportunities, broadening your horizons, and shifting from a reactive stance to a proactive one in relation to broader government policy directions.”

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The President emphasized that the government must collaborate closely with professional accounting organizations in the country and harness the full potential of the accounting profession to drive economic growth.

“With the government already having a good working relationship with professional bodies in the country, we can create a conducive environment for accountants to thrive, innovate, and contribute meaningfully to our nation’s development. The benefits of such collaborations are clear: improved economic management, enhanced corporate governance, and increased investor confidence. As we strive to build a strong and resilient economy, accounting expertise will guide us toward sustainable growth and prosperity,” he added.

Earlier in his address, the President of ANAN, Dr. James Neminebor, bemoaned the negative impact of corruption, mismanagement, and lack of transparency in the system, which hinders economic growth. He stated that financial transparency and governance have become increasingly imperative in providing clear and accurate reporting for stakeholders seeking reliable information.

Neminebor noted that with the changing dynamics in today’s world, ANAN is equipping its members to proactively adapt and turn economic disruption into opportunities for optimal development.

He said, “Financial transparency is not just a moral imperative but an economic necessity. It ensures accountability, builds trust, and promotes sustainable growth. We must strengthen our institutions, enhance oversight, and enforce consequences for misconduct. We must also empower citizens with access to information, education, and participation in the budgeting process.”

He stressed the need to integrate environmental sustainability into financial decisions, recognizing the impact of human activity on the planet.

“As we strive for economic development, we must prioritize environmental sustainability. Achieving this requires the efficient deployment of Green Accounting,” he added.

Also speaking, the ANAN Chief Executive Officer, Dr. Kayode Fasua, said the conference was organized to prepare its members for the challenges ahead.

He explained that the theme of this year’s edition was informed by the changing dynamics in the world.

He said, “Today, everything is changing in the world. Accounting five years ago is different from accounting today. There are lots of dynamics, lots of new trends emerging. And don’t forget that the conference is also evolving as a current discipline. So, we must advance excellence in the accounting profession as it changes, ensuring our members stay in line with global developments.”