On Thursday, 24th October, 2024, I was privileged to have delivered a paper at the Third Annual Lecture of the Bursary Department of the Federal University of Technology, Minna. The title of my paper as presented was, “The Role of Accountants In Promoting Ethical Financial Practices In University System.”
The paper which was divided into nineteen slices of power point was professional and straight to the point, with more of an academic, rather than political consideration.
As result, and shortly after the presentation and in a swift move to garner more readership the nation’s newspapers and blogs became awash with news story on the above subject matter. Regrettably and most importantly, some of them chose to embrace sensationalism at the detriment of accuracy in their news reporting.
Specifically, my attention was therefore drawn to lots of news captions where I was quoted to have mentioned that “members of the national Assembly demand bribe from universities to perform their oversight function”. In reality, I never mentioned that in the paper I delivered. As a professional Accountant and as an astute academic who knows what oversight function means, I cannot just begin to jump into any social, political and or economic controversy without weighing the gravity of my utterances.
The said paper was delivered in my capacity as a Professor of Accounting, and as Hassan Ibrahim, of Ibrahim Badamasi Babangida University, Lapai, Niger State.
Again, in the paper, I tried to draw the line between Nigerian universities, innovation and financial management where I urged Nigerian universities to adopt innovative strategies to tackle the financial management challenges plaguing the Nigerian University System (NUS).
The third Annual Bursary Lecture gave me the singular opportunity to emphasize more on the critical role of ethical financial practices in ensuring sound financial management.
My lecture title underscored the importance of ethical stewardship in the effective utilization of resources. I also maintained stakeholder trust, and safeguarding the reputation of academic institutions. This is where, I think, the misquotation came in.
On the issues related to governance, infrastructure, and human resources, I highlighted the indispensable role of accountants and noted that accountants contribute significantly to financial integrity by ensuring transparency and accuracy in reporting, maintaining robust internal controls, conducting audits, and fostering ethical decision-making.
I said a lot about financial experts, and I quote, “As custodians of financial integrity, accountants are essential in promoting transparency, accountability, and the responsible allocation of university resources,”
I also stressed the importance of adhering to institutional rules and prioritizing financial needs to ensure judicious use of limited resources within the university system.
Let me once again use this opportunity to advise members of the press to always
crosscheck facts before going to press.
A situation where individuals’ statements are misconstrued count a lot, and does not auger well for the development of the nation, especially now that it is grappling with serious economic reality.
