BusinessICAN Suspends Fmr AGF For Ten Years, Seizes Licence

ICAN Suspends Fmr AGF For Ten Years, Seizes Licence

spot_img

By Ayodele Oni

Access Bank Advert

The Human and Environmental Development Agenda (HEDA) Resource Centre has backed the Institute of chartered Accountants of Nigeria, (ICAN) for its decision to punish the former Accountant General of the Federation, (AGF) Jonah Otunla who had earlier been indicted for financial mismanagement.

HEDA  lauded members of the National Executive Council of the ICAN for their decisive disciplinary action against the embattled former AGF, on professional grounds.

UBA

The position was contained in a statement issued on Sunday by the Chairman of HEDA, Olanrewaju Suraju.

The anti-corruption group expressed the appreciation for ICAN’s fulfilment of commitment to inform the organisation of the outcome of a disciplinary proceeding against Otunla.

READ ALSO:  PDP Calls Abia Council Poll Huge Joke As Otti Swears-in Elected Officials

The group had previously filed a complaint against Otunla, accusing him of embezzlement and stealing approximately N6.3 billion.

Suraju stated: “We received the judgment with excitement and assurance that accountability is about to take firm root in our professional associations.

“We also commend the President of the Institute and his Council members on this act.

“We, as an organization, believe that the disciplinary action and its outcome will further deter corrupt practices among members of this noble profession.

“Thank you once again as you are always assured of our support and commitment to professional integrity, enforcement of ethics, and the fight against corruption and misappropriation of public funds in the country.

READ ALSO:  Tinubu Orders Investigation Of Those Connected With Trial Of Underaged, Immediate Release

“We also extend our congratulations to the President of the Institute, Mallam Tijani Musa Isa BSc, M.IoD, FCA, his Council members, and the entire Institute for this significant accomplishment.

“As an organization, we firmly believe that this disciplinary action and its outcome will serve as a powerful deterrent against corrupt practices among members of this esteemed profession.”

According to the eight-page judgment delivered by the ICAN Disciplinary Tribunal, Otunla has been suspended from membership of the Institute of Chartered Accountants of Nigeria for a period of 10 years. Additionally, he has been ordered to return his membership certificate and licence.

Part of the judgment reads: “The suspension period shall run from the date the certificate and licence are returned to the institute.

READ ALSO:  Kano: NMA Issues 48 Hour Ultimatum To Kano Govt To Sack Commissioner For Assault

“The respondent is also ordered to pay the cost of N1,000,000, which covers the expenses of the proceedings at the investigating panel and the tribunal in this case.”

Furthermore, failure to comply with the judgment will result in automatic removal from the institute’s membership register.

HEDA further welcomed the judgment with enthusiasm and expressed confidence that it would foster a stronger culture of accountability within professional associations.


Discover more from The Source

Subscribe to get the latest posts sent to your email.

Share your story or advertise with us: WhatsApp: +2348174884527, Email: [email protected]

Your Comment Here

More articles

Discover more from The Source

Subscribe now to keep reading and get access to the full archive.

Continue reading