Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has urged accountants nationwide to uphold the ethics of their profession and adhere strictly to Nigeria’s financial regulations.
He emphasized that fraud in the public sector is often enabled by the complicity of accountants.
This statement was made by Dele Oyewale, the EFCC’s Head of Media and Publicity, during Olukoyede’s goodwill address at the 29th Annual National Conference of the Association of National Accountants of Nigeria.
Olukoyede, who was represented by the Director of Finance and Accounts, Ahmed Pate, said accountants were often the enablers of all forms of fraud.
He said, “Indeed, there is hardly any public sector fraud that is possible without the complicity of an accountant. Whether it is embezzlement, procurement fraud, payroll fraud or pension fraud, the enablers are often accountants.”
Olukoyede specifically stated that a Fellow of ANAN placed pecuniary interests above professional and national interests.
He said, “Two former Accountant Generals of the Federation were investigated and indicted for fraud by the Commission. Without prejudice to ongoing prosecution in court, one of them, a Fellow of ANAN, placed pecuniary interests above professional and national interest in fiddling with the national till.
“ We have also had accountants who were convicted for converting public funds and other corrupt practices, including schooling their clients to launder funds.”
He urged the body to withdraw its licence to practice from those found guilty of any fraudulent activities.
Olukoyede said, “Those who are established to have violated such codes should be sanctioned, including withdrawal of license to practice as a deterrent to others.”
Olukoyede noted that the EFCC desired to see a more responsible and efficient accounting profession that would earn the trust of all citizens; he urged ANAN to pick up the gauntlet of radical enforcement of codes of acceptable professional behaviour among its members.
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