Auditors seek accountability, transparency among members for Nigerian economic growth

Auditors across Nigeria have been called upon to uphold the values of accountability and transparency as essential pillars for economic development and sustainable corporate governance in the country.

The call was made during a sensitisation programme for auditors held in Abuja, organised by the Institute of Internal Auditors (IIA) in collaboration with EY West Africa.

Speaking at the event, the Chief Executive Officer of IIA, Ambrose Enuma, emphasised that auditors must take personal responsibility for integrity and ethical conduct in order to support national progress through sound corporate governance.

“If any nation wants to succeed, the corporate governance structure must be in place,” Enuma said. “We, as auditors, are what you call the third line of defence. Our role is to give assurance on how the organisational structures are working according to plan.”

He explained that when auditors properly carry out their responsibilities, it builds confidence among stakeholders and investors, enabling organisations to attract and retain business partnerships.

Also addressing the gathering, Chairman of IIA, Simon-Jude Mmayie, reiterated the critical role of internal audit in corporate governance, stressing that strong internal control systems, whether in the private or public sector, are vital to creating sustainable value.

“At the heart of corporate governance is internal control, and internal audit plays a pivotal role in reinforcing that,” Mmayie noted. “Maintaining the independence of internal auditors will always elevate the corporate governance framework of any institution.”

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In a keynote presentation, Partner and Government, Finance and Infrastructure Lead at EY West Africa, Ayodeji Ogunyemi, explained that the aim of the programme was to educate stakeholders on the significance of effective governance systems.

He defined corporate governance as the structure of rules, practices, and processes by which companies and organisations are directed and managed.

“Effective corporate governance fosters an environment of trust, transparency and accountability,” Ogunyemi said. “Trust is built through consistent and fair practices. I think, for me, the entire country needs to be a little bit more serious about doing the right thing.”

The event served as a platform to deepen awareness of how trusted audit functions can enhance organisational performance and contribute meaningfully to Nigeria’s broader economic objectives.

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