By Chinyere Anyanwu
The Federal Government has been tasked on the need to invest more in Small and Medium Enterprises (SMEs) and the agricultural sector to boost the country’s economy.
The Institute of Chartered Accountants of Nigeria (ICAN) made the call at the weekend during the Investiture of the 4th Chairman of Gwagwalada and District Society of ICAN and inauguration of the Executive Committee in Gwagwalada, Abuja.
Mr. Sosanwo Akinwunmi, Fellow of Chartered Accountants, the new Chairman, highlighted the need for improvement in the economy through gainful initiatives in agriculture and small businesses.
Akinwunmi urged President Bola Tinubu to empower the agricultural sector by reaching out to them directly and creating wallets through the Ministry of Agriculture, adding that financial aid should be given directly to the people. He noted that provision fertilisers and other inputs should be made available for farmers and operators of SMEs.
“Educate them on how to run their businesses effectively and monitor the businesses properly. I think with that, we’ll be able to improve our domestic productions,” he said. He stated that the problem of the economic crisis lies with several things, including multiple borrowings.
“A lot of things have happened, which include the multiple borrowings by the government, and not getting the right information about the developmental projects done with the money. Even telling the CBN (Central Bank of Nigeria) to print money is an act of borrowing and it also has an impact on the economy. So, these are some of the things preventing the various economic policies put in place by the government to have a significant indelible value,” he said.
Akinwunmi pledged that under his leadership, the district would impact on the communities within its operation.
For his part, Technical Director, Godwin Eje, said the leadership team would focus more on the capacity building of chartered accountants.
“I’m hoping to bring in innovations to ensure that my colleagues are up-to-date with contemporary issues. Before the advent of technological advancements, many things were being handled differently. But with the advent of new technology into the accounting domain, some of our colleagues, who were previously skilled to handle certain things, can no longer meet up to them, due to the knowledge and skill gap.
So it is paramount that everyone gets carried along with the modern developments to enable them meet up with modern challenges in the accounting domain,” Eje said.
The 60th ICAN President, Davidson Alaribe, while congratulating the new executive, urged them to work hard to build on the efforts of the past executives to keep the flag of professionalism and excellence flying in the district.
Represented by the 1st Deputy Vice President and District Coordinator, ICAN, Hajia Queensley Seghosime, Alaribe urged them to intensify efforts on all initiatives of the institute, especially the “Catch Them Young” programme, which is aimed to attract and retain more young talents into ICAN and the accounting profession at large.
He urged them to always bear in mind that the efforts of the past leaders of the district must not go down the drain. He said, “I encourage you our new leaders to ensure that the district activities are at their highest tempo.”
The president also said that the country was going through various socioeconomic challenges, hence, the need for the new leadership to maximise the opportunity to showcase its problem-solving capability and in turn produce quality results.