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ICAN boss blames past governments for economic woes


Titus Soetan

Titus Soetan

President of the Institute of Chartered Accountants of Nigeria (ICAN), Titus Soetan, yesterday blamed the present economic woes on the failure of successive governments to save and develop infrastructure during the period of oil boom.

Soetan while exonerating President Mohammadu Buhari urged Nigerians to stop blaming the All Progressive Congress (APC) administration for the economic challenge presently confronting the nation.

The new ICAN spoke in Ibadan at the 50th anniversary celebration of foremost accounting firm, Z .O Ososanya & Co.

Essentially, the ICAN boss noted that the present economic situation was due to mismanagement of the economy saying past governments failed to save or develop infrastructure like schools, roads and hospitals during the oil boom.

Soetan said: “I can see perfectly the readiness of this government to salvage the present economic challenges which is largely due to a reduction in our income by about 60 per cent.

“For instance, if you are earning N100.000 before and has dropped to N40, 000, would you still live the same lifestyle? Would you not cut down on your expenses? It is true they were elected to serve us but they have met a lot of rot in the system which would take some time to address,’’ he said.

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ICANTitus Soetan
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