By Providence Obuh

LAGOS—The Institute of Chartered Accountants of Nigeria, ICAN, yesterday, advised the newly inaugurated President Muhammadu Buhari administration to remove all perceived or imaginary subsidy which has been a source of huge leakage in the nation’s economy.

ICAN made its position known during the investiture of Otunba Olufemi Deru as the 51st President of the Institute.

In his inaugural speech at the investiture, Deru, who is a former President of Lagos Chamber of Commerce and Industry, LCCI, said that the institute will continue to support government with its professional knowledge and skills in the fight against corruption, money laundering and terrorism financing.

According to him: “These are challenging times in the affairs of our nation when all men of goodwill including accounting professionals must stand up and be counted in the arduous task of rebuilding the fabrics of the nation. We must take the bull by the horn as a nation by taking those hard decisions that will positively impact the welfare of the citizens.”