• Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
Sunday, August 17, 2025
Emerald News Nigeria
  • Home
  • Inside Delta
  • Health
  • Politics
  • Crime
  • Economy
  • Education
  • Relationship
  • Special Report
No Result
View All Result
  • Home
  • Inside Delta
  • Health
  • Politics
  • Crime
  • Economy
  • Education
  • Relationship
  • Special Report
No Result
View All Result
Emerald News Nigeria
No Result
View All Result

Eyitayo takes oath of office as 57th ICAN president, warns against borrowing to finance consumption

by Emerald Nigeria
June 2, 2021
in Economy
ShareTweetShareShare

Also Read:

International accountancy day: ICAN urges members to reaffirm pledges to standard practice

ICAN tells NERC, Discos – defer the implementation of the new rate

ICAN seeks collaboration with SCUML, NFIU and other stakeholders against corruption In Nigeria

ICAN applauds FG’s unification of the foreign exchange rate, says policy will yield long-term gains.

BY TAIWO OKUWOBI, LAGOS

The Institute of Chartered Accountants of Nigeria (ICAN) has sworn in Mrs. Comfort Olujumoke Eyitayo as the 57th President of the institute.

Eyitayo, who took the oath of office on Tuesday at the institute head office Victoria Island Lagos, promised to provide a focused and purposeful leadership for the institute.

While delivering her acceptance speech Eyitayo said: “This high office of the ICAN president is actually a call to service, a call to confront and overcome challenges facing the members, institute, the accountancy profession and the national economy through focused and purposeful leadership.

“Pursuant to this, let me assert that, today, humans and corporate entities are confronted with the challenge of survival and sustainability in a volatile, uncertain, complex and ambiguous (VUCA) world.

“In these unusual times, the challenge of efficient resource utilization and value creation in Nigeria is made more difficult not only by the climate change and COVID-19 pandemic but also, by disruptive technology and insecurity.

“As corporate entities collectively strive to survive and grow, nature’s endowments are plundered with adverse impact on the ecosystem and its ability to provide food, support life and assimilate waste.

“The spate of huge negative externalities has put the world on edge, prompting Lord Mervin King to declare that, “only chartered accountants can save the world!”

“Although saving the world is a collective responsibility, are we positioned and ready to take on this challenge? Are we ready to dissuade entities we manage from prospering at the expense of society? Can we persuade our entities to put people and planet before profit as envisaged by the UN Sustainable Development Goals? Who will bell the cat?”

Mrs. Eyitayo reiterated that as members of the foremost professional accountancy organization in the sub-region, the institution must take on the challenge of setting a new agenda for national rebirth which will include achieving sustainable development for their generation without impairing the capacity of future generations to enjoy nature’s abundant resources.

 “As financial experts we will lend our voices to the call by patriotic Nigerians that the trend towards borrowing to finance consumption should be discouraged notwithstanding the fact that the debt to gross domestic product (GDP) ratio is within acceptable fiscal and economic limits.

“In any case, what does the gross domestic product mean to the common man when inflation is over 18% and he cannot afford three square meals?  For the nation to survive economically, it cannot continue to spend over 70% of its revenue on debt servicing.

“As a body, we would take on the advocacy role and collaborate with government to review the planning, budgeting and financing mechanics. We would also liaise with standard setters and regulators to review the nation’s corporate reporting framework such that sustainability metrics are mandatorily applied,” she said.

Meanwhile, the immediate past president of the institute, Dame Onome Joy Adewuyi, said she was pleased to report that arrangements have reached advanced stage to secure the National University Commission’s(NUC) licence for the ICAN university.

 “The Planning and Implementation Committee (PIC) on the proposed university are concluding all the necessary paper work to secure the NUC licence. The PIC is working together with our consultant who is a former staff of the NUC with several years of experience on the requirements for securing the NUC licence for the establishment of a university.

“We are very optimistic that the licence will be issued shortly. The council has also approved a Board of Trustees as required by the NUC to oversee the activities that will lead to the birthing of the university,” she said.

Tags: borrowingEyitayoICAN
ShareTweetShareSend
Previous Post

Urhobo youths fume, give 14 days ultimatum to Ohanaeze Ndigbo, Imo govt to fish out killers of immigration officer

Next Post

Rights group bemoans killing of over 670 innocent citizens, detaining of 2100 persons within five months in South East

Related Posts

I asked Grok one of most powerful AI tools to give me the wealthiest tribe in Nigeria, the tribe it mentioned with reasons will shock you

I asked Grok one of most powerful AI tools to give me the wealthiest tribe in Nigeria, the tribe it mentioned with reasons will shock you

August 14, 2025
What Actually Happened – Ibom Air Explains Disturbing Encounter With Unruly Passenger

What Actually Happened – Ibom Air Explains Disturbing Encounter With Unruly Passenger

August 11, 2025
COVID-19: Read reactions as Senator expresses fear over call for resumption of schools

You Won’t Believe This!! Shehu Sani predicts 15 powerful things AI, technology will do to the world system in next 75 years (A Must Read)

July 31, 2025
Delta CARES Holds 2-Day Training for Management Staff,  Strengthens Implementers Capacity Ahead of NG-CARES 2.0 Rollout

Delta CARES Holds 2-Day Training for Management Staff, Strengthens Implementers Capacity Ahead of NG-CARES 2.0 Rollout

July 22, 2025
Delta Rich in Resources, Poor in Vision — Mulade Demands Bold Economic Moves from Oborevwori

Delta Rich in Resources, Poor in Vision — Mulade Demands Bold Economic Moves from Oborevwori

July 9, 2025
Strategic Representation: Senator Nwoko Secures Federal Appointments Across Key Sectors for Constituents

Strategic Representation: Senator Nwoko Secures Federal Appointments Across Key Sectors for Constituents

July 1, 2025
Next Post
Edo2020: Soldiers, police take over Auchi, shops, boutiques shut down against normal closing hours

Rights group bemoans killing of over 670 innocent citizens, detaining of 2100 persons within five months in South East

Trending

  • BREAKING: Governor Oborevwori’s Aide Offers Comfort Emmanson N500k job, All-Expense-Paid Trip to Asaba, Five Star Hotel Accommodation

    BREAKING: Governor Oborevwori’s Aide Offers Comfort Emmanson N500k job, All-Expense-Paid Trip to Asaba, Five Star Hotel Accommodation

    0 shares
    Share 0 Tweet 0
  • What Actually Happened – Ibom Air Explains Disturbing Encounter With Unruly Passenger

    0 shares
    Share 0 Tweet 0
  • BREAKING: Enough is Enough! House of Assembly Begins Probe of Former Governor

    0 shares
    Share 0 Tweet 0
  • I asked Grok one of most powerful AI tools to give me the wealthiest tribe in Nigeria, the tribe it mentioned with reasons will shock you

    0 shares
    Share 0 Tweet 0
  • JUST IN: Passenger who assaulted Ibom Air Hostess Remanded in Kirikiri Prison

    0 shares
    Share 0 Tweet 0
  • This pentecostal pastor messed up, what he did is disgusting to Christianity, And what happened thereafter will shock you

    0 shares
    Share 0 Tweet 0
  • (Watch Video): Leaked S3x tape of another Nigerian celebrity is shared online, victim reacts as her video goes viral

    0 shares
    Share 0 Tweet 0
  • Delta North APC Endorsement of Senator Nwoko Irrevocable – Chief Eboh Fires Back at Critics

    0 shares
    Share 0 Tweet 0
  • Delta Court Issues Certificate Of Land Possession To Obi Of Ogwashi-Uku, Unauthorised Trespassers, Land Buyers To Face Prosecution

    0 shares
    Share 0 Tweet 0
  • One Year Without Trial: Dafinone Leads Efforts to Free Detained Okuama Leaders

    0 shares
    Share 0 Tweet 0

Latest Stories

Delta Land Grab Case: CDHR President Urges Attorney General to Ensure Unbiased Investigation

August 16, 2025

Senator Ned Nwoko Celebrates Delta APC Chairman, Elder Omeni Sobotie on His Birthday

August 16, 2025

Okumagba Felicitates Delta APC Chairman Omeni Sobotie on birthday anniversary

August 16, 2025

You’re a dynamic and committed leader, Senator Dafinone eulogises Delta APC chairman on birthday

August 16, 2025

From ICT Centres to Sapele Port: Senator Dafinone Sets Development Target for Delta Central

August 16, 2025

Anioma and the Igbo Question: Setting the Records Straight Against Basil Okoh’s Misinformation

August 16, 2025

Ossai’s Offer That Broke The Internet: Check The Right Reasons We Fail To Understand

August 15, 2025

Senator Ned Nwoko will remain major stakeholder in driving Governor Oborevwori’s MORE Agenda – APC Chieftain

August 14, 2025

Delta Court Issues Certificate Of Land Possession To Obi Of Ogwashi-Uku, Unauthorised Trespassers, Land Buyers To Face Prosecution

August 14, 2025

Niger Delta Peace Advocate and Activist, Mulade Sheriff, Honoured with Ph.D. in International Relations

August 14, 2025
  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions

© 2024 Emerald News Nigeria.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Emerald News Nigeria
  • Inside Delta
    • Niger Delta
  • Politics
  • Economy
  • Crime
  • Education
  • Health
  • Entertainment
  • Relationship
  • Special Report

© 2024 Emerald News Nigeria.