Eyitayo, 57th President of ICAN, wants FG to revisit circular on professional qualifications

The Institute of Chartered Accountants of Nigeria (ICAN) has elected another woman , Mrs Comfort Olu Eyitayo, as its 57th President. She takes over from Mrs. Joy Onome Adewuyi.

Speaking at her investiture ceremony last Tuesday, Eyitayo called on the government to revisit the recent circular from the office of the Head of Service of the Federation in April 2021, ordering ministries, departments and agencies to stop with immediate effect, the use of professional qualification as entry qualifications into the civil/public service.

In her view, the policy would weaken and diminish the importance of professionalism in public governance. She therefore urged the government to have a rethink especially now that the Country needs more professionals in the public service to build professionalism, improve the quality of corporate reporting and the ability to attract foreign direct investment and grants to Nigeria.

She assured that under her leadership, ICAN will work closely with governments at all levels on the challenge of setting a new agenda for national rebirth which will include achieving sustainable development for this generation without impairing the capacity of future generations to enjoy nature’s abundant resources.

The Institute will also take on the advocacy role and collaborate with government to review the planning, budgeting and financing mechanics as well as liaise with standard setters and regulators to review the nation’s corporate reporting framework such that sustainability metrics are mandatorily required of listed entities.

She noted that as professionals and expert risk managers, the Institute as a stakeholder is aware of the causal relationship between poverty, hunger and crimes which is manifesting in the Country due to unemployment and poverty among Nigerians and as such will collaborate with the government to evolve better strategies that will address the underlying causes of poverty and insecurity in the Country.

Eyitayo will pilot the affairs of the Institute for the next one year. Her investiture took place on Tuesday, June 1, 2021 at the Institute’s Secretariat in Victoria Island, Lagos, Ivan’s spokesperson, Bunmi Owolabi, said in a statement on Thursday.

Eyitayo was born on March 7, 1955 in Ijebu-Itele, Ogun State. She obtained her WASCE in 1973 and GCE Advanced Level in 1975, in Lagos, She bagged a Higher National Diploma (HND) in Accounting from the famous Hammersmith and West London College in 1980, same year she bagged an Advanced Diploma in Economics from the University of London School of Economics.

In 1982 she bagged a Polytechnic Associateship in Accountancy (PAA) – a Post Graduate Diploma- from Sheffield City Polytechnic (now, Sheffield University, UK).

She was at the London School of Accountancy to prepare for her ACCA professional qualifying examinations. Afterwards, she returned to Nigeria and subsequently registered, obtained the relevant exemptions and sat for the ICAN Final level examinations.

She qualified in 1988 and was admitted into the full membership of ICAN in 1989.

She diligently trained and prepared for an outstanding and flourishing career in Accountancy which lasted almost 4 decades.

She trained and worked with KPMG Nigeria between 1984 and March 1993 with responsibility for Auditing, Tax, Management, Computer Auditing Assignment and Computer Training. She retired voluntarily from KPMG in 1993 to set up her own Professional Practice, Comfort Olu. Eyitayo & Co. (Chartered Accountants), a firm of Financial/Management Accountants and Tax Practitioners where she serves as Senior Partner.

She is a Certified Forensic Accountant and a Certified Fraud Examiner (ACFE), USA.

Besides being a distinguished fellow of the Institute of Chartered Accountants of Nigeria, Mrs. Eyitayo is an Associate of the following professional bodies: Nigeria Institute of Management (Chartered); Chartered Institute of Taxation of Nigeria(CITN); Computer Association of Nigeria (COAN); Computer Professionals (UK); and the Society of Company & Commercial Accountants (UK).

She was at the prestigious National Institute for Policy and Strategic Studies (NIPSS), Kuru-Jos in 2009.