Monday 09 April 2018 C002D5556 BUSINESS DAY A3
A4 NEWS BUSINESS DAY C002D5556 ICAN vows to fight mediocrity, proliferation of accountancy bodies in Nigeria CBN, banks plan to disburse N60bn AGSMEIS fund to vulnerable sector rate under the Real Sector KELECHI EWUZIE “I led a delegation to the HOPE MOSES-ASHIKE IFEOMA OKEKE National Assembly, particularly to the Senate, to Central Bank of Nige- strategic initiative is targeted Support Facility (RSSF). The The Institute of Chartered Accountants condemn the bills in strong ria (CBN) in collaboration with deposit and agriculture, given the at projects in manufacturing of Nigeria (ICAN) terms. But just last week, has vowed to use our liaison person from the money banks are mutual interdependence of every necessary mechanism to deal with the grow- us that the same bill was lion from the Agri-business, industrialisation of agro-al- National Assembly notified planning to disburse N60 bil- both sectors for the complete ing rate of mediocrity in the read in the House of Representatives,” he said. fund (AGSMEIS) to the vul- He also disclosed that SME Investment Scheme lied business, he said. nation’s professional sphere and also fight the proliferation of accountancy bodies assured members that the my in the next few days. based Risk Sharing System The ICAN president, who nerable sector of the econo- under the Nigeria Incentive- in Nigeria. management was working AGSMEIS fund is an initiative by the banks as directed (NIRSAL), established in for Agricultural Lending Ismaila Muhammadu to ensure that mediocre do Zakari, president of ICAN, not succeed with their plans, by the CBN to set aside 5 percent of their profit after tax valued at over N33.0 bil- 2011, more than 224 projects said the ICAN had been urged members to ensure under threat by some mediocre that want to set up to kill mediocrity in the ac- to have grown to N60 billion Federal Ministry of Agricul- that all hands were on deck yearly. The fund is expected lion were guaranteed for the accountancy bodies. countancy profession. by the end of the year. ture’s Growth Enhancement Zakari stated this in his “The motive behind setting up these proposed innor of CBN, disclosed this at Under the Anchor Bor- Godwin Emefiele, gover- Scheme. opening address at the induction ceremony of the 99 stitutes was basically for the weekend in Lagos while rowers’ Programme (ABP), candidates that qualified money making. From the delivering an address at the he reported that the domestic rice production had for certification in three faculties - Audit, Investigations ICAN, the people behind sonality of the Year 2017” increased many folds and investigation carried out by Guardian “Economic Per- and Forensic Accounting; these bodies were Nigerians, who failed to pass He noted that the level of stantially. award. its imports had crashed sub- Financial Reporting Standards, as well as Insolvency ICAN certification examination,” he said. my channelled to productive ing the bank’s intervention credit in the domestic econo- While also enumerat- and Corporate Re-engineering. He further disclosed that private sector was critically efforts in the power sector, According to Zakari, the people behind the new below the levels required to which he noted was key to industrialisation, as well as the ICAN was invited by the National Assembly last month rensic Accounting, which is path of balanced, sustain- Micro, Small and Medium- bodies also argued that Fo- place the economy on the to make a presentation on an arm of accountancy, was able, and inclusive growths. Scale Enterprises (MSMEs), bill seeking to establish Act a different profession. “We Emefiele said N393.5 billion had been released to 478 us of sustainable growth, job which he said was the nucle- for the creation of Chartered Institute of Forensic from the Corporate Affairs large-scale agricultural pro- creation and poverty reduc- already have two searches Accountant of Nigeria and Commission (CAC) confirming the existence and even as the bank was poised of the CBN in key sectors had jects since inception in 2010, tion, he said the intervention Chartered Institute of Forensic and Investigative Auditors in Nigeria. of the new bodies,” he said. lion at only 9 percent interest in local membership composition to disburse up to N400 bil- resulted in a significant boost production. Monday 09 April 2018 Unions petition FG over sack of 37 teachers from aviation school Aviation unions in the Nigerian aviation industry have petitioned the Federal Government over the sack of 37 teachers from the Nigerian College of Aviation Technology (NCAT), Zaria, Kaduna State, by the management. The unions - National Union of Air Transport Employees (NUATE), Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and the National Association of Aircraft Pilots and Engineers (NAAPE) - in a joint petition signed by their general secretaries insisted that the college’s management was ill-advised by some people in the system. The unions also demand for due process at all times be followed when the management decides to discharge any of their members due to faults not of theirs. The petition, dated March 19, 2018, was signed by Frances Akinjole, ATSSSAN; Olayinka Abioye, NUATE, and Ocheme Aba for NAAPE. The unions also copied Hadi Sirika, minister of state for aviation, Rotimi Amaechi, minister of transportation, Chris Ngige, minister of labour and employment, head of the civil service of the federation and the executive chairman, Salaries, Income and Wages. The petition insisted that “some mischievous third force at NCAT” were bent on misadvising the management in order to dislocate the prevailing industrial harmony at NCAT, wondering why the management was reluctant in implementing the judgement of the National Industrial Court of Nigeria, which reversed the sack of teachers in staff schools across the country. The petitioners explained that the management of the college immediately implemented the policy of the government, which withdrew it from the funding of staff schools, but wondered why it was slow in implementing a court judgement, which reversed the government’s policy. Other staff schools across the country have implemented the judgement of the industrial court by recalling their sacked teachers in staff schools, but only NCAT was yet to implement such.