Former President, Institute of Chartered Accountants of Nigeria, ICAN, Otunba
Lateef Owoyemi, says Nigerian leaders will continue to steal as long as the cost
of participating in elections remains extremely expensive.
Owoyemi spoke at
the annual public lecture of ICAN organised by the Lagos State Public Service
held at the Sheraton Hotel and Towers in Lagos, southwest Nigeria, yesterday on
the theme: Accounting and Accountability in the Oil and Financial
Sectors.
The 75-year old ex-ICAN president stated that when politicians
seeking elective positions to be president, governors and others spend billions
of naira campaigning, they would certainly steal when they get into such offices
in order to recoup what they had spent and to settle cronies who bankrolled
their campaigns.
“Things have gone upside down in Nigeria. We are wasting our
time, we are not dealing with the core issue of this problem. Three things make
people to be corrupt, which are pressure, opportunity and justification.
“If
we don’t reform the election process in Nigeria, corruption will continue to be
part of our life. If we don’t devise another means of campaigning for election,
corruption will never end. If we don’t tackle the issue of election cost,
corruption will never cease. If people will spend billions of naira to get
elected, they must get the money back. If you are in a position of power, there
is no way you can be poor. Let us have a Nigeria that is sensible and working,”
he said.
Owoyemi said no fraud would go on without accountants not being
aware of it. He, therefore, urged ICAN members to ensure transparency in
carrying out their duties.
He said ICAN had never shy away from investigating
and sanctioning members found wanting in their practice, stressing, however, the
need to draw a distinction between chartered accountants and
“accountants.”
ICAN President, Mr. Adedoyin Owolabi, lamented that the oil
revenue had made the nation to abandon agriculture, which used to be her
mainstay, saying that the oil money had come with lots of sorrow and corruption.
He said the fuel subsidy issue was a blessing in disguise as it had helped to
unravel how some cartel stole the nation’s money, while he called on chartered
accountants to embrace the best accounting practice.
Similarly, Peter Esele,
President-General, Trade Union Congress of Nigeria, TUC, blamed the sad
development in the country on indiscipline, poor adherence to standards,
corruption, paucity of operational tools, inadequate laws and legislations,
primordial sentiments and judiciary impediments as those caught were sometimes
discharged and acquitted by the courts on frivolous grounds which tended to
encourage more of unprofessional and unethical practices.
By Kazeem Ugbodaga
Culled from PmnewsNigeria
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