ICAN backs Buhari over naira devaluation


The Institute of Chartered Accountants of Nigeria (ICAN) has supported President Muhammadu Buhari’s decision not to devalue the naira, urging Nigerians to show understanding instead of pressurising the President to devalue the naira.

The body noted that since the country was not gainfully exporting any credible products, it would be foolhardy to devalue the nation’s currency but Nigerians should be patience until the dollar stabilises.

Chairman of ICAN (Jos District), Mr. Pam Gyang, gave the advice in Jos, while speaking with journalists at the “Catch Them Young” programme organised by the district in conjunction with the ICAN national body to sensitise school-children on the need to have interest in the accounting profession.

Gyang commended the Federal Government on its fight against corruption and insecurity but charged it not to neglect the economy which is at its lowest ebb but rather diversify the economy to boost its growth.

He lamented the situation where political advice takes precedence over professional ones saying, “Accountants are disciplined people, we abhor corruption, so we support the fight against it but the economy is backward.

“We have been advising government but politics override our advice, what we failed to do in the past is affecting us today, we need to diversify the economy.”