The Association of National Accountants of Nigeria (ANAN) has disclosed that Nigeria continues to grapple with inflation and other economic challenges because leaders and administrators often divert budgeted funds to irrelevant sectors.
ANAN, therefore, urged both federal and state governments to adopt proper budget implementation and ensure technological compliance in the budgeting cycle to effectively tackle the economic challenges facing the country.
Speaking on Tuesday in Yenagoa during ANAN’s 2nd session of the 2025 Mandatory Continuing Professional Development (MCPD) Programme and the induction of new members, ANAN’s President and Chairman of Council, James Ekerare Neminebor, emphasized the need for properly trained accountants to advise public office holders on sound economic and financial practices.
Speaking on the theme of the workshop, ‘Corporate Value Creation and Reporting’, Neminebor urged accountants to remain committed to excellence and to continue adding value to their respective organizations while upholding the ethics of the profession.
He said:“Government is ruled by the budget. Every year, we outline what we will spend on, and funds are allocated accordingly. These allocations are meant to serve the entire sectors of the economy. Implement those budgetary allocations. Don’t divert funds from Budget A to Budget C. That’s what causes problems in our economy.
“Train the accountants to guide the administrators. If accountants are professionally trained to direct the administrators in implementing proper budgeting, Nigeria will attain financial stability, and the economy will begin to grow significantly.
“As professional accountants, we play critical roles in creating corporate value and providing accurate and timely financial information to stakeholders. Our responsibilities are strategic, proactive, and far-reaching. We are pivotal in organizational planning, decision-making, risk management, and performance measurement.”
Neminebor explained that the MCPD programme was introduced to keep members abreast of current and emerging developments in the profession.
He appreciated the Prosperity Administration for its developmental strides and thanked Bayelsa State Governor Douye Diri and his deputy, Lawrence Ewhrudjakpo, for their support throughout his two-year tenure as ANAN’s national president.
Also speaking, ANAN’s Chief Executive Officer, Kayode Olusola Fasua, urged accountants to utilize the knowledge and insights gained from the workshop to strive for professional excellence.
He said the training highlighted the importance of keeping up with evolving trends and standards in the accounting profession.
According to him, “Corporate value creation is at the heart of every successful business strategy, focusing on both financial and non-financial factors that contribute to long-term sustainability and stakeholder wealth.”
Earlier, Bayelsa State Governor, Douye Diri, while declaring the workshop open, urged accountants to always be professional in the discharge of their duties, describing them as key drivers of economic growth.
Represented by his deputy, Lawrence Ewhrudjakpo, the governor expressed satisfaction with the intellectual calibre of the discourse at the training, noting that it would positively impact governance in the country.
The State government commended ANAN for its commitment to an educational policy that emphasizes continuous training and retraining of members to enhance professional excellence.
Commenting on the theme of the programme, “Corporate Value Creation and Reporting”, Ewhrudjakpo described it as apt and relevant, noting that accounting, like many other dynamic professions, requires continuous skill sharpening to tackle emerging challenges in both the public and private sectors of the economy.
He assured ANAN of the state government’s continued collaboration, especially toward the successful take-off of the association’s College of Accountancy project located at Sampou Community in Kolokuma/Opokuma Local Government Area.
He also thanked ANAN for giving James Neminebor whom he described as an illustrious son of Bayelsa the opportunity to serve as its national president for the past two years.
“On behalf of the governor, the government, and the people of our state, I thank the leadership and members of ANAN for locating its Accounting Research Centre in Bayelsa.
“I understand the project was commissioned yesterday at the University of Africa, Toru-Orua. As a government, we consider that gesture a massive contribution to the development of the university and the accounting profession not only in the State but across the country.
“I also want to commend ANAN for your education policy, which has become an effective system of training and capacity building, leading to the emergence of countless chartered accountants in Nigeria.
“Clearly, what you are doing is greatly contributing to the development of the accounting profession. I believe your model deserves emulation by other public institutions in the country,” he said.
