General
Governments Need Proper Financial Reporting for Good Policies—Diri
By Aduragbemi Omiyale
The Governor of Bayelsa State, Mr Douye Diri, has stressed the need for proper financial reporting as a form of guidance to the government in formulating policies that will be beneficial to the citizens.
Mr Diri gave this submission while declaring open the 2nd session of the Mandatory Continuing Profession Development (MCPD) programme of the Association of National Accountants of Nigeria (ANAN) at the Ecumenical Centre, Yenagoa on Tuesday.
The Governor said the burden was on the shoulders of the accountants, to discharge the responsibility to ensure that government and other institutions have correct and proper reporting in place.
“Proper accounting and reporting is the glory of the accountant. So, once you are not able to discharge this responsibility or duty, it then means that your glory is no longer with you,” Mr Diri, who was represented by his Deputy, Mr Lawrence Ewhrudjakpo, disclosed.
He further said, “Without positive and accurate reporting, governance would become a challenge. Countries, societies, and even families have made decisions that are very colossal as a result of wrong reporting in terms of the available resources and how those resources can be applied.
“There is no way government’s decisions will not be dislocated or disabled if proper financial reporting is not done by you as accountants. Our reporting must not end with one plus two in our balance sheets. But it must be analytical, futuristic and dynamic.”
Speaking further, he said, “Our financial reporting should be able to bring out all the dynamics and variables that will affect our micro and macro-economic decisions to make our economy viable.
“When we talk about resources, apart from man, the other most important resource is finance, because even the Bible acknowledges the powerfulness of money. It says money answereth all things. In any case, it also gave a proviso that the love of money is the root of all evil.”
He tasked the accountants to “use the opportunity of this Mandatory Continuing Professional Development programme to take the opportunities to build your capacity and competencies.”
“I want to state that the themes of your conferences have always been exciting. Your theme here and others your National President and Chairman of Council has referred to are quite apt and contemporary,” he added.
In his keynote address, the National President and Chairman of Council, ANAN, Mr Benjamin Chuka Osisioma, lauded the Bayelsa State government for the steps taken so far to develop the state.
He said the theme of the programme, Dynamics of Corporate Reporting and Governance, was designed to inform accountants of the processes of bringing together material information about organizations’ strategies, performance, prospects and governance in a way that reflects the economic, social and environmental contexts within which they operate.
General
ANLCA Onne Seaport Chairmanship: Ikenga Vows to Carry Colleagues Along
By Bon Peters
As the Association of Nigerian Licensed Customs Agents (ANLCA) braces up for the February 2025 election, a chieftain and incumbent General Secretary of the group at the Onne Seaport chapter, Mr Chinedu Ikenga, has promised to be the voice of members.
Mr Ikenga is contesting for the chairmanship position of the chapter and while unveiling his 7-Point Agenda in Port Harcourt, the Rivers State capital, he said, “I firmly believe that every member of ANLCA in general and Onne chapter, in particular, deserves a voice, and I am committed to be that voice for each and every one of you.”
The association’s scribe, who described ANLCA as a place of learning, growth and development, promised to continue on that part, noting that such values should be the touchstone for anybody who aspires to lead the chapter.
Relying on his accessibility, humility, honesty, integrity, inclusiveness, commitment, dedication and uprightness, industry watchers and critical stakeholders believe that Mr Ikenga is the man for the top job, all things being equal.
The GS, who is the chief executive of Prestige Associates Limited, said he would prioritise members’ needs and concerns when elected.
He also pledged to create a safe and inclusive environment where everyone feels welcome and valued, promote a friendly and conducive environment for business to thrive, ensure ANLCA becomes a better place for members, and create opportunities that would guarantee members’ welfare.
He also promised to sustain and improve on the foundation led by previous administrations for the benefit of the group.
After launching his manifesto, Mr Ikenga visited some of the government agencies at the ports, including the Nigeria Customs Service (NCS), the Nigerian Ports Authority (NPA), the West African Container Terminal (WACT), and the Onne Multipurpose Terminal (OMT), among others.
General
How We Rescued Ex-Lagos CP’s Wife from Kidnappers, Recovered N10m Ransom, Others—Police
By Modupe Gbadeyanka
The wife of a former Commissioner of Police (CP) in Lagos, Mr Hakeem Odumosu, Mrs Folashade Odumosu, has been rescued from the kidnappers’ den.
Mrs Odumosu, whose husband retired as an Assistant Inspector General of Police (AIG), regained freedom in the earlier hours of Thursday, January 23, 2025, after some police detective launched an attack on her abductors.
She was forcefully picked up by the suspects on Thursday, January 16, 2025, at about 9:45 pm from her car outside her residence in the Arepo area of Ogun State allegedly by four masked gunmen.
Immediately after the incident, police operatives attached to the Ogun State Command began surveillance for her rescue, which finally happened a week later.
In a statement issued by the police spokesman, Mr Olumuyiwa Adejobi, narrated that the Ogun State police operatives engaged in extensive surveillance of the creeks surrounding Arepo, gathering crucial information to track down the assailants.
It was stated that their efforts culminated in a raid today after an intelligence-led operation took the police to a creek in the swampy area of Ikorodu where the kidnappers were reportedly planning their next attack.
Upon arrival, the operatives encountered the kidnappers, who opened fire. In the ensuing confrontation, two of the gunmen were neutralized, while four others fled the scene, abandoning their operational weapons.
The victim, Mrs Odumosu was rescued within the swampy creeks during the operation, unharmed. She is currently undergoing medical evaluation as a precautionary measure and has since been reunited with her family.
The police also recovered four AK-47 rifles, three locally made single barrel rifles, ammunition of various calibres, and the sum of N10 million ransom previously demanded by the kidnappers, further ensuring that justice is served.
The Inspector-General of Police (IGP), Mr Kayode Egbetokun, commended the Ogun State Commissioner of Police, Mr Lanre Ogunlowo, and his operatives for the successful operation, saying it exemplifies the dedication and resilience of police officers.
General
Telco Tariffs Hike: FCCPC Promises to Ensure Compliance
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has said it would ensure compliance with the new telecommunications tariff adjustment.
Earlier this week, the Nigerian Communications Commission (NCC) allowed for a 50 per cent hike in tariffs for the first time since 2013.
Although stakeholders have expressed dissatisfaction with the level, the law establishing the policy will have to be followed.
While the telcos have silently expressed that the 50 per cent level was too low for the sustainability of the industry; consumers want a lower threshold with an association protecting customers saying it will approach the courts.
Speaking on how it will ensure compliance, the Director of Corporate Affairs of FCCPC, Mr Ondaje Ijagwu, said the commission was working with the NCC to ensure consumers are not infringed upon during the transition period and beyond.
He urged telecom operators to prioritise visible and measurable improvements in network reliability, speed, accessibility, and customer service as part of any tariff adjustment, saying that consumers’ interest is paramount.
According to him, it is crucial that tariff adjustments directly translate into demonstrable and tangible service enhancements for consumers, commending the NCC for adopting a deliberate and measured approach by rationalising the tariff adjustment and linking it to commensurate improvements in service quality.
”Operators are now required to disclose all key details upfront, including the cost, validity period, and the specific inclusions of a plan.
“Consumers can also expect a mandatory disclosure table from their service providers, enabling them to make informed decisions without worrying about unexpected charges or surprises,” he said.
Mr Ijagwu said the Memorandum of Understanding (MoU) signed between the FCCPC and NCC would provide a unified framework to oversee the implementation of the tariff adjustment in a manner that met the needs of consumers, encouraging consumers to report any unfair practices or concerns through the agency’s official channels to ensure effective resolution.
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