The Senate has asked for the collaboration and partnership of the Institute of Chartered Accountants of Nigeria (ICAN) to ensure accountability and transparency in respect of revenue generation, collection and remittance.
President of the Senate Ahmed Ibrahim Lawan made this request last week while receiving ICAN President Mazi Nnamdi Okwuadigbo, FCA and the ICAN team on a courtesy visit to the red Chamber.
Senator Lawan said the Institute’s support was essential to the National Assembly as it would greatly improve the work of three of its committees, especially the Committee on Finance.
He said the Senate would continue to engage the revenue agencies adding that the objective was to see transparency in all that they do.
“One thing we are determined to ensure is that whatever is generated is remitted to the federation account as provided for in the constitution. So Accountants will be very fundamental in what we are going to do”, he said.
In his remarks ICAN President Mazi Nnamdi Okwuadigbo, urged the Senate to continue to facilitate the passage of bills that would promote professionalism, social, economic and human capital development.
Okwuadigbo added that the renewed interest of the National Assembly at improving the budget process would attract positive results on the provision of infrastructure and growth of the Nigerian economy.
“We have the confidence that this would be sustained to forestall previous occurrences where budgets were approved late, thus, leading to poor or non- implementation of major projects that should facilitate the much-desired inclusive growth and development in the country,” he said.
He also tasked the National Assembly, and other stakeholders to commit to the timely approval of the National budget so as to enable timely commencement of the implementation of the budget from the beginning of January of every year.