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‘ICAN is still investigating ex-CBN Gov’

Posted by Bosede Olusola-Obasa on 2005/08/04 | Views: 327 |

‘ICAN is still investigating ex-CBN Gov’


THE President of the Institute of Chartered Accountants of Nigeria, Chief Lateef Owoyemi, said on Wednesday, that its investigative panel was still probing the allegations of malpractices against a former Governor of the Central Bank of Nigeria, and a former president of the institute.

THE President of the Institute of Chartered Accountants of Nigeria, Chief Lateef Owoyemi, said on Wednesday, that its investigative panel was still probing the allegations of malpractices against a former Governor of the Central Bank of Nigeria, and a former president of the institute.

He said that contrary to expectations in some quarters, the cases were still being investigated in line with the due processes of the law and could not be prosecuted until found culpable.

Owoyemi, who spoke with our correspondent after presiding over five other cases involving members of the institute in Lagos, said that it was necessary for the body to carry out independent investigations into the allegations to determine if the charges levelled against them were correct.

While he said that the investigative process might take months, he encouraged the public to be patient and allow due process to prevail in reported cases, assuring that ICAN would deal accordingly with any member who has a case to answer.

He advised that formal complaints should be registered with the institute if any member was found wanting in his professional conduct, adding, “We do not want to be reading in the newspapers that bank accounts are not well audited by our members. We encourage the public to speak up so that we can pursue reported and established cases, not just hearsay and we assure that such cases would be properly handled by the investigative panel and subsequently the tribunal, which is a proper court.”

He said that since the outcome of the disciplinary process had the power to determine the future of a chartered accountant’s career, the process was usually handled with caution and due regard, adding that that this was why the name of the ex-CBN Governor had not been revealed pending the establishment of the veracity of the allegations against him.

He said, “We do not want to become frivolous or prejudicial. What if we eventually find out that he has no case to answer? That is why his name cannot be made public until he appears before the tribunal. He cannot be pronounced guilty as yet.

“We want to reassure the public that ICAN has a firm and stringent machinery for handling such issues and to instil more confidence in employers of chartered accountants.

“The ICAN’s Disciplinary process is time-tested, and no respecter of persons no matter how highly placed. For instance, a one-time Governor of the CBN and a revered former president of our institute whose names I have withheld among 34 others, are before the investigating panel answering to allegations made against them, as well as nine other members who are standing trial before our disciplinary tribunal which has powers equivalent to those of the High Court.

“The reason why ICAN revisits cases that might have been decided by a law court that affect our members is because, a person might have a PhD, and he gets sacked for professional misconduct, but if he still has the certificate from the institute in his possession, he can go elsewhere and get a job,” he said.

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Comments (9)

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Kim Worley(Greeley, Colorado, US)says...

I heard this in a song and had no idea what it meant. Googled it and this came up. Very Cool. ????????????????

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Obinna(Newark Nj)says...

I want to know more meaning and significant of this name obidike in igboland

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Olusola Okhiria Nee Sodunke(Newport, Newport, UK)says...

This is a great piece of history, which is dear to our hearts as people and very much appreciated.

Many thanks to the people who worked hard in the past and those who are still making efforts to keep the institution.

The labour is obviouly worth it. We are proud of you all.

A lot still to be done, with the motivation of the champions of this course, others will follow as well to maintain the institution

May God continue to keep the edifice for development of future generations to the glory of God and the benefits of our fatherland.

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Joel Efiong(Calabar, Nigeria)says...

This is a great piece. The examination bodies should hire you as ICT consultant.

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Sunday Mbe(Kaduna, Kaduna, Nigeria)says...

ULIMASI means' GOD,THANK YOU' not THANK GOD.