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President Muhammadu Buhari has
described accountants as the first set of
gatekeepers to ensuring that all
transactions are conducted prudently
and charged them to avoid being used
in executing illegal financial deals.
Besides, the President reiterated the role
of accountants in government ’ s ongoing
efforts at diversifying the economic
base of the country , confronting the
security challenges and dealing
decisively with corruption in all aspects
of government businesses.
Buhari, who was represented by the
Accountant- General of the Federation ,
Alhaji Ahmed Idris , made the remarks
in a message at the 22 nd yearly general
meeting of the Association of National
Accountants of Nigeria (ANAN ), in
Abuja, with the theme: “ Sustainable
Economic Management in a Recession ” .
“ In all these spheres, the role of
accountants cannot be over -
emphasised,” he said , adding that the
administration ’s resolve to combat
corruption with enhanced transparency
and accountability had come to stay .
“ To strengthen the fight against
corruption, we launched the Whistle
Blower Protection Policy and presented
as Whistle Protection Bill 2016 to the
national assembly in order to ensure
and protect Nigerians for supporting
this fight. A firm implementation of the
Treasury Single Account (TSA ) since
September 2015 has significantly
enhanced transparency in the Federal
Government’s Public Financial
Management System , ’’ he said .
The president said that his
administration firmly believed that if
the numerous resources were
appropriately accounted for ; corruption
duly checked ; patriotism deeply imbibed
in everything; the spirit of rule of law
observed; and the citizen ’s political
freedom ensured, Nigeria could not
have been in recession.
But President of ANAN , Alhaji Shehu
Ladan , commended the efforts of
government in the management of
recession and the prospects in the
Economic Recovery and Growth Plan
(ERGP), inauguration of the Nigerian
Industrial Policy and Competitiveness
Advisory Council to boost the
manufacturing sector of the economy
through the formulation of sectoral and
industrial policies.
He however , advised government that as
a matter of policy , there should be
provision to ensure that all registered
companies submit audited accounts in
efforts to drive revenue , adding : “ More
individuals will be employed and that
shall men more taxes from Pay As You
Earn .”
“ President Buhari has continually
pushed the agenda for enhancing
Nigeria’ s global image by always
demonstrating Nigeria ’s credentials. The
Government’s stance against
corruption- related vices have soared the
image of the country in the comity of
nation,’’ the accountant said .
In a keynote address titled: “ Sustainable
Economic Management In a Recession :
Issues, Strategies and Options ’’, Prof
Willie Okowa, lamented that the country
had failed in terms of diversification of
the economy , saying that Nigerians
must begin to think out of the box.
“ The politics and struggles over oil
money have turned Nigerian away from
the production in favour of
consumption. With a high and rising
population , dependence on oil money
has unleashed poverty on the masses
while systemic corruption has
unleashed great inequalities of income
and wealth .
“ If the various governments of the
country are able to increase taxation to
about 20 per cent of national incomes ,
we should be able to generate about N28
trillion per annum , given our Gross
Domestic Products of about N 140
trillion .
“ When there are no more free oil funds
to share , then the various governments
in the federation would be compelled to
do everything possible to push taxation
towards the 20 per cent threshold ,” he
said .
The Minister of State for Labour and
Employment , Prof . Stephen Ocheni , in a
goodwill message , commended ANAN ’ s
pragmatic collaboration with the
Federal Government in the drive toward
post - recession sustainable economic
development programmes .
Ocheni described the implementation of
TSA as appropriate policy , noting that
the only way to ensure prudent
management of government ’s resources
is to ensure there is financial discipline,
transparency and accountability .
Source:mosyloaded
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