ICAN Donates Lecture Halls to Five Universities

The umbrella body for accountants in the country, Institute of Chartered Accountants of Nigeria (ICAN), has offered to build a lecture hall each in five universities across the country.

The beneficiaries are Obafemi Awolowo University (OAU), Ile-Ife; Ahmadu Bello University, Zaria; University of Benin, Benin City; University of Nigeria, Nsukka; and Kebbi State University of Science and Technology, Birnin Kebbi.

The institute said the offer was part of its initiatives aimed at strengthening its public interest mandate and encouraging the production of highly skilled accounting graduates in the country.

Speaking during the foundation laying stone of the lecture theatre in Ile Ife recently, the President of the institute, Mr. Chidi Ajaegbu, said the project was meant to support the aspirations of students and to create conducive atmosphere for learning with a view to producing highly skilled graduates.

The project, according to him, was the next step in the institute’s developmental initiatives to address the issue of poor performance of students.

“Over the years, the governing council of the institute has observed with dismay the poor performance of candidates at the institute’s examinations due largely to poor academic background of students, lack of good tuition, poor and inadequate preparations, and dearth of good learning materials.

“The first outcomes of the concerted efforts to address the issues were the publication of ICAN Study Packs and creation of the Students’ Special Project (SSP). The study packs which were first developed and solely financed in 2006 by the institute have been taken to another level today through a World Bank sponsored twinning arrangement with the Institute of Chartered Accountants in England and Wales (ICAEW).

“This amongst other positive outcomes has produced world-class learning materials, a new examination structure and syllabus which would take effect in November, 2014,” Ajaegbu said.

The institute’s boss noted that while the old syllabus had Foundation, Intermediate, Professional Examinations I and II, professional examinations under the new syllabus is in three levels including Knowledge, Application and Professional.

He also said each of the selected institutions would provide a parcel of land on which the lecture theatre would be built as the institute desires to accomplish the project within the next one year.

Responding, the Vice Chancellor of OAU, Professor Idowu Omole said ICAN’s gesture had complemented the vision of the institution even as he expressed gratitude to ICAN’s governing council for the gesture.

The vice-chancellor described ICAN as the foremost professional body in the country when it comes to producing out Accountants who know their onions and can compete with their peers anywhere in the world.

Established by the Act of Parliament Number 15 of 1965, ICAN is a founding member of Pan African Federation of Accountants (PAFA) and it has a permanent seat on the board of PAFA.

It is empowered to set standards of knowledge and skill to be attained by persons wishing to become members of the accountancy profession.

With over 39,000 members and over 120,000 students on its registers, ICAN seeks to be a leading global professional body and to produce world-class chartered accountants, regulate and continuously enhance ethical standards and technical competence of its members.

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