‘Our 6-3-3-4 system okay, produces best students abroad’

 

 

Mariam Ola, a doctoral candidate and graduate research assistant at the State University of Washington, USA, in this interview with MODUPE GEORGE, shares insights into her voyage from the professional accounting practice to the classroom, among other issues.

 

TELL us about your transposition from accounting background into teaching?

I’m a professional accountant who had worked for almost 20 years in the accounting field in Nigeria before my current role as a student and teaching assistant at the State University of Washington, USA. All along, I enjoy doing calculations and working with numbers. This was from my secondary school days in Nigeria. This passion led me to pursue my first degree in accounting at the Ahmadu Bello University (ABU), Zaria.  I also earned a master’s degree in accounting and finance at Bingham University, USA. Aside from the two academic degrees, I acquired some professional certifications. Today by the grace of God, I’m a Fellow of three prestigious professional bodies in Nigeria. These are the Institute of Chartered Accountants of Nigeria (ICAN), the Chartered Institute of Taxation of Nigeria (CITN), as well as the Institute of Management Consultants (IMC).

 

With your rich accounting background, what motivated you into becoming a classroom teacher?

Life generally is transitory. However, teaching; imparting knowledge has been my ambition for a long time. Though I had spent about 20 years in the accounting industry and was doing well, I’m convinced it’s time to be in the classroom and retire as a teacher. I strongly believe it is important I share my knowledge and experience with the next generation of accountants. That is my desire.

 

Can we share your professional experiences?

I have worked with a reputable private accounting firm with a diverse career spanning financial risk assessment, corporate financial management, and forensic auditing. However, one of the most impactful aspects of my work has been the conduct of large-scale forensic audits and value-for-money assessments across multiple industries. These assessments involved analysing corporate financial statements, identifying discrepancies, and implementing strategic recommendations to strengthen internal controls and optimise resource allocation.

Most importantly, I was involved in a particular project, which revolved around restructuring of the National Identity Card Management System in Nigeria. This initiative required a thorough financial and operational audit to identify system inefficiencies. Then, my role in the project included assessing the project’s financial viability, evaluating procurement processes, and ensuring that public funds were utilised effectively. Through data-driven recommendations and improved financial oversight, we helped enhance operational transparency, reduce wastage, and improve service delivery in the national identity management sector in Nigeria.

 

You mentioned forensic audits and value-for-money assessments; can you expatiate on these two areas?

Forensic audits are crucial in uncovering financial discrepancies and ensuring accountability. It involves carrying out in-depth investigations into organisation’s financial records to detect fraud, mismanagement, or non-compliance with regulations. This process involves analysing financial transactions, identifying irregularities, and gathering evidence to support legal or regulatory actions.

One notable case I fully participated in involved a multinational corporation suspected of financial misconduct. Due to the sensitivity of the matter, it would also be unprofessional for me to disclose the name of the organisation concerned. But my role required meticulous examination of financial statements, tracing fund flows, and collaborating with legal and regulatory bodies to ensuring transparency and compliance.

Similarly, value-for-money (VFM) assessments are essential for evaluating whether resources have been utilised effectively or not and economically too. A key project I also worked on involved restructuring of the National Identity Card Management System, which I had mentioned earlier with my role. Through the initiative, we were able to identify inefficiencies and recommended cost-saving measures and strengthened financial governance within the system to enhance financial sustainability and operational effectiveness.

 

Now as a doctoral student, one of your recent research work focuses on tax policy and financial reporting, what benefits will this have on the society? 

That the research targets low-income families is a huge benefit on its own. The research as I have said exposes how effective tax credits can alleviate financial burdens of low-income families. It was able to reveal that the introduction of family’s tax credits in Washington State has led to a 61 percent reduction in the unpaid credit card debt among low-income households. This underscores the potential of the government developing programmes to enhance financial stability. By providing crucial insights into how state-level tax credits influence financial behaviours. The work also highlights the need for improved policy adjustments to maximise benefits for all eligible recipients and ensure greater financial equity.

 

How was your studentship experience like at ABU?

It was interesting all through but I spent five years instead of four studying accounting. It was the ASUU strike that extended our stay by one year. However, in all, the experience really shaped me. It makes me strong to face challenges and get results.

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If you are to compare, what would you say about the government policies in the US and Nigeria?

One thing that is very clear is that every country has its policies and programmes. To compare is to talk about whether a particular policy is good and how adaptable it is in the country of comparison. The truth is that most of the things that we see working in the US we also have in our systems in Nigeria. The big issue is about how do we drive them. The problem we have in Nigeria, like I earlier mentioned, is that of implementation of policies, and also the seriousness of people to key into policies without being coerced.

For instance, it is not until the government forces the citizens to do certain things which they would have done ordinarily before they do them. Look at the issue of the National Identity Card. Most people didn’t bother to key into the initiative until the government made the number one of the requirements for opening accounts in banks, or to register for one exam or the other and the rest. It is not like that in the US. Nobody will ask you about your name in the US. You will only be asked of your social security number, even if thousands of people may bear the same name.  So, with a social security number, every detail as an American resident will be revealed at a click of a button. This is the kind system we need in Nigeria. It will guide against many fraudulent practices including falsification of population figures, age among others. It will also help in the government’s policies and programme planning. It is not that we don’t have some of these systems in place in Nigeria; to make them work is the problem.

Similarly, I believe that a system that works for Country A may not necessarily work for Country B and vice versa but what is important for us in Nigeria is to put in place the suitable systems that will drive development. It shouldn’t be until someone is coerced before linking the Bank Verification Number (BVN) to his or her bank account.

 

What do you have to say about Nigeria’s educational system?

Honestly, our 6-3-3-4 system is okay. That is the system that produced some of us who are now abroad. If we are not groomed well, we will find it difficult to get our bearings here. We wouldn’t have even secured admission for further studies in the first instance and many of us won’t have been among the best either as students or lecturers. Thus, beyond having a better studying and working environment where you won’t need to struggle to get water or electricity and all that or experience one industrial action or the other, you will do more practical studies than theoretical in the US. Here, the focus is about developing the people and not just on getting certificates.