The Chartered Institute of Treasury Management (CITM) has called on the Head of Civil Services of the Federation to include CITM as one of the recognised professional bodies’ qualifications in the federal civil service.
The Registrar of the Institute, Mr Olumide Adedoyin, made the call at the institute’s 3rd Induction and Recertification Programme in Abuja on Thursday, with the theme “Advancing Treasury Techniques for Business and Economic Development.”
He stated that, just like the Institute of Chartered Accountants of Nigeria (ICAN) and the Association of National Accountants of Nigeria (ANAN), anyone with a CITM qualification should be placed in the appropriate civil service cadre.
He explained that the demand for inclusion was prompted by a memo from the Office of the Accountant General of the Federation, and he believed that this inclusion would be a significant step forward.
Mr Adedoyin said, “The memo seeks the inclusion of CITM qualifications as one of the recognised professional bodies’ qualifications in the federal civil service and the scheme of service.
This is not only anticipated to benefit dedicated civil servants but also to enhance the capabilities of the FSC in its quest to achieve various objectives.”
He commended the prompt attention given to CITM’s request by the Office of the Head of Civil Service, stating that the outcome would elevate professionalism in the civil service.
This, he believed, would also help raise the standards of Nigeria’s public service, and he noted that members of the institute had achieved remarkable milestones.
He added that their collective efforts were expected to continue driving positive change in the field of treasury management within Nigeria.
It is worth noting that CITM, in the memo to the AGF, quoted the provisions of the scheme of service revised edition of May 1, 2000, with references to pages 182/183, 187, and 188.
He added that the scheme had previously recognised, for placement, holders of treasury qualifications in the State and Federal Scheme of Service from grade levels 06 to 08.
This was before the passage and assent to the CITM (Establishment Act, 2021) via government notice no. 4, January 2022.
According to him, the inclusion of this Act in the scheme of service would add value and provide holders of the qualification with opportunities to benefit from evolving new knowledge and best practices.
Mr. Olubode Oke, an inductee and former Director of Finance in the civil service who is now a lecturer at the university, pointed out that the knowledge people have about treasury management is limited.
He explained that many practitioners did not realise they had a limited understanding of treasury management, saying, “Even when I was in the office, all they knew was to sign checks and handle cash.”
He added, “So it means we have a gap, which is what CITM is trying to bridge in order to educate, develop, and foster an understanding of what treasury management is all about.”
He also mentioned, “It is good; I am a fellow of ICAN, and treasury is practised extensively within government accounting, so it is beneficial if CITM is included as a promotion requirement for entry.”
Earlier, Mr. Daniel Akeju, Special Adviser to the Registrar, mentioned that with the recognition, CITM members would be able to implement professionally what they had learned from CITM in the civil service.
He emphasised that CITM would help enhance the skills of its members in terms of what they could contribute to the system.
He also stressed that “if it is not accepted in the civil service, many will be reluctant to join.”
He urged the HoSF to expedite the process of recognising CITM as a requirement in the civil service.
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