The Institute of Chartered Accountants of Nigeria (ICAN) has elected Mrs Onome Adewuyi as the 56th President in its 54 years of existence.
Her investiture took place at the institute’s secretariat in Lagos, after an election was held on Tuesday, June 2.
In her acceptance speech and inaugural address, Mrs Adewuyi promised to partner with the government to redefine national values, economic priorities and resource utilisation strategies such that the mass of the citizenry can be lifted out of avoidable poverty.
According to her, ICAN would leverage its professional expertise to support players in the informal sector, whose unsung value-creating activities will define the position of the nation on the ladder of sustainable development.
She noted that poverty in the midst of plenty being experienced by Nigeria posed a serious challenge, adding that the nation is at a point in its economic development where all hands must be on deck to address the ugly situation.
“According to the 2019 World Bank Human Development Report, 53.5 percent of Nigerians live below poverty line of $1.9 a day.
“I am inclined, like many analysts, to believe that the situation is even worse considering the high rate of crime and criminality all over the country. The situation is better imagined if we take cognisance of the possible effect of COVID-19 in the near term,” the new president said.
On refocusing ICAN capacity building initiatives, Mrs Adewuyi stated that this year, the institute would formalise its online training and incorporate them into the annual training brochure. She added that the Members’ Education and Training would be bolstered with cut-edge virtual training programmes.
“These would run together with the established traditional model of delivering trainings. Also, the ICAN faculties would be equipped to become centres of excellence for virtual training in the seven specialist areas of Accounting,” she expatiated.
Speaking further, the new ICAN President said the lesson of the COVID-19 pandemic has challenged ICAN to redefine the values it shares, the way it relates and account for its actions and inactions.
“Evidently, the proactive deployment and proficiency in the use of technology will continue to define corporate and individual success.
“This emerging paradigm has implications for how we relate and bond as professionals who share a common vision of working together to build a great nation with a sustainable economy driven by strong institutions,” the ICAN boss said.
She assured that as the Institute would strive to hold leaders at all levels accountable, it would also enforce compliance to the professional code of ethics and sanction all proven cases of misdemeanor by members without fear or favour.
Mrs Onome Adewuyi graduated with a second class honours (Upper Division) in Accounting from the University of Benin in 1982 and obtained an M.Sc degree in Banking & Finance from the University of Lagos in 1993.
She is an alumnus of the Harvard Business School, Boston Massachusetts USA; the Wharton Business School of Pennsylvania, USA and the Kellogg Business School, Chicago USA.
She is also an alumnus of the International Banking Summer School, USA and the Lagos Business School.
She began her career with Texaco Nigeria Plc as the Treasury and Investment Accountant. She later joined the Nigerian Intercontinental Merchant Bank Limited where she started her banking career.
