April 9, 2022

Insecurity: Chattered Accountants tell Buhari how to fish out financiers of terrorism

noncommunicable diseases

•Signs MoU with Police on forensic investigation, audit

•Professionals ‘re live-wire of economy —President

Chattered Accountants on Friday told President Muhammadu Buhari that the illegal activities of financiers of terrorism in the country could be traced through the application of the principles of forensic accounting.

The Accountants, under the aegis of the Institute of Chattered Accountants of Nigeria, ICAN, also told the President that they were ready to avail the country of their technical competence in forensic audit and working with security agencies to expose the perpetrators of the illegal business.

Already, ICAN said it has signed a Memorandum of Understanding, MoU with the Nigerian Police Academy on forensic investigations and auditing aimed at contributing to the national desire for a prosperous economy.

This is as President Buhari has said professionals in various fields, especially accounting, provide the strength and framework for thriving economies, assuring that his administration will continue to engage experts to gain measurable and reliable results.

Receiving a delegation of ICAN led by the President, Mrs. Comfort Olu Eyitayo, at the presidential villa, Abuja, the President noted the contributions of the institute in ensuring probity, accountability and transparency, urging more diligence and professionalism.

He said, “Having served as a military Head of State, and returned to politics to serve as a President, after losing three elections, I have seen the system of accountability in the country, and the mess to be cleaned up,” he said.

Describing ICAN as a “social stabilizer’’ of the economy, the President said he would go through reports and recommendations of the institute on inclusivity and strengthening the nation’s accounting system for growth.

Speaking earlier, the President of ICAN, Mrs. Eyitayo, appreciated President Buhari and his administration in adhering to best accounting principles and practices to secure and revive the economy, particularly reverting to the January to December budget calendar.

Eyitayo said the institute had established seven faculties to train accountants in specialized fields, which include forensic accounting, adding, “It is noteworthy that the institute had signed an MoU with the Nigerian Police Academy on forensic investigations and auditing.”

According to the ICAN President, Forensic Accounting, working with security outfits, could be used to reduce the security challenges facing the country by tracking all monies used in committing crimes, and payments.

She said, “We are worried with the nefarious activities of some bad elements in the society who engage in the dastardly acts of terrorism, banditry, kidnapping, killings for ritual purposes, among many others.

“Fighting terrorism is a big challenge across the world and we commend the efforts being made to stem this tide in our country. As Chattered Accountants, we acknowledge our role in combating terrorism by the application of the principles of forensic accounting and following the money to fish out the perpetrators of these illegal activities.

“Sir, we would continue to avail the country of our technical competences in forensic audit, working with other security agencies to expose these enemies of progress.”

She said ICAN was taken aback by a memo that emanated from the Head of Civil Service of the Federation stating that professional certificates would no longer be used as qualification for entry level into the nation’s civil service.

“This, to say the least, is a most unfortunate development, because encouraging professionalism across all levels of government would give traction to the quality of service delivered by our civil servants. 

“We appeal to you (Buhari) sir to use your esteemed office to analyze the merits and demerits of this decision and direct that it should be retraced,” the association pleaded.