The Chairman, Board of Directors, Keystone Bank Nigeria, Lady Ada Chukwudozie has advocated for the sustenance of high standards in service delivery among professional bodies in Nigeria.
Lady Chukwudozie was the keynote speaker during the 75th Induction Ceremony of the Institute of Chartered Accountants of Nigeria (ICAN) held at
the ICAN Center in Lagos, on the theme: “Financial Leadership for Sustainable Development: Best Practices and Future Directions.”
The event brought together esteemed professionals in the field among other eminent personalities.
Lady Ada Chukwudozie, who doubles as the Chairman, Manufacturers Association of Nigeria South East region, urged them to leverage their experiences in forging a new path toward the economic revitalization of Nigeria.
She urged Accountants in Nigeria to embrace new perspectives and strategies to drive progress.
“To sustain the profession’s positive impact on economic development and ensure that the accounting profession in Nigeria continues to be a potent force for economic development, the adoption and implementation of global best practices are not optional they are imperative.”
She urged them to uphold ethical standard insisting that ICAN must continue to sanction misconduct and celebrate excellence.
“According to a KPMG Nigeria survey (2023), 42% of financial fraud cases involve collusion between internal staff and external consultants. This must end, she warned.
“ICAN’s commitment to enforcing a zero-tolerance policy against professional misconduct must be encouraged and consistently applied nationwide. Integrity is the non-negotiable currency of trust in the financial world, strengthening disciplinary mechanisms and promoting a culture of ethical behavior from the moment of induction throughout a member’s career are crucial.”
The distinguished industrialist further called on the members to leverage technology to enhance security and transparency in record keeping noting that “cloud-based accounting platform is no longer a futuristic concept but a present-day necessity.”
“Digital literacy must become a core competency embedded in ICAN’s curriculum and continuous professional development programs across Nigeria. This will empower accountants to provide more insightful analysis and contribute to data-driven economic decision-making.”
She further made a case for capacity building and and Continuous Professional Development (CPD), urging them to be prepared for the “evolving regulatory landscapes, market complexities and adapt to emerging economic challenges.”
“ICAN’s collaboration with universities and professional training institutions across the country to offer specialized certifications and workshops in areas like forensic accounting, tax management and IFRS updates is also crucial. ICAN must transition from being a regulator to being a thought leader.”
Lady Ada Chukwudozie, who urge old members to be mentors to the next generation called for the commitment of new one to integrity for the accounting professionals, to continue in upholding the torch of excellence.
“ICAN has provided you with a strong foundation, the Nigerian economy eagerly awaits your contributions, and the future demands your innovation and ethical leadership.
“You must be the voice that says no to inflated contracts. The eyes that see through financial manipulation.
The hands that design systems that protect, rather than exploit. The minds that innovate solutions to long standing bottlenecks and the hearts that beat with empathy for the real people behind the numbers.”
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