Depend less on monthly allocation ―ICAN advises state government

The Chairman, Institute of Chartered Accountants of Nigeria (ICAN) Ilorin and district society, Pastor Abel Aiyedogbon, has advised state governments in the federation to look inwards and be less dependent on federal government allocation at all time.

Speaking during his investiture as the new chairman of the institute in Ilorin at the weekend, Pastor Aiyedogbon said that state governments should strengthen their internally generated revenue (IGR) mechanism to achieve financial independence to meet payment of workers salary and infrastructural development needs.

Pastor Aiyedogbon, who described the current recession in the country as temporary, however, urged Nigerians to look inwards and depend less on imported goods hence the need to consume only what we produce.

He lamented that the nation could not have crude oil and still be importing petroleum products, just as he commended efforts of the Central Bank of Nigeria (CBN) in addressing the devaluation of the Naira particularly against the dollar.

He explained that in a situation where Nigerians were not importing, there might not be need to go for the dollar.

The ICAN chairman therefore urged government to encourage local manufacturing through enabling environment.

The ICAN boss, who commended the Kwara State Internal Revenue Service (KWIRS) for its reinvigorated financial activities, described the state as one of the states in the federation that was rendering its financial statements as at when due.

Pastor Aiyedogbon said the financial statement of the state government had shown the commitment of the government for accountability and Transparency.

He added that the institute and the state government had an understanding in the area of ensuring accountability in its various ministries and parastatals, adding that some of his members were chartered accountants in the employment of the state government.

He also said that his new executive has a six- point agenda which includes capacity building for ICAN members, professional training programmes, building of a befitting secretariat and embarking on regular visit to schools to educate the young ones particularly students about accounting as a profession.

The ICAN chairman also said that the institute had an internal regulatory mechanism like a tribunal that has the jurisdiction to discipline erring members, adding that anyone found guilty could be delisted and license of practice withdrawn.