ICAN Installs Jaiyeola as 54th President

Olaseni Durojaiye

In line with statutory practice of over five decades, the Institute of Chartered Accountants of Nigeria (ICAN) has recorded a change of baton in its leadership, with the investiture of Alhaji Razak Jaiyeola as its 54th president.

His ascension to the office concluded activities that commenced on March 29 with his election by council members of the institute, and a revalidation of the election on the eve of the investiture.

The new ICAN president was reputed for championing capacity building among members including advocating the deployment of modern Information Technology into accounting practice.

Besides, Jaiyeola represented ICAN in many working committees both within and outside Nigeria including the committee that reviewed Presidential Executive Order on Ease of Doing Business. He also stated that the institute under his leadership will partner the federal government in the fight against corruption.
In his post investiture remarks, he recalled that the journey to becoming the 54th ICAN president started with his election as the second Deputy Vice President of the institute.

“Since then, I have had the greatest exposure into the sophisticated governance system of our great institute,” he stated adding that “Without doubt therefore, this 3-year tutelage, has prepared me eminently for the huge responsibility of providing leadership to over 45,000 seasoned professionals and the tasks that lay ahead.”
He promised that the institute’s impact would be felt more than before. He also stated that ICAN was at a threshold of history, adding that practitioners must aspire to make their impact felt in public governance and argued that doing so has implications on the ability of operators in the private sector to continue to create wealth.
“By this investiture, the banner of integrity will be lifted higher both within and outside the profession.”

Over the years, ICAN has been in the forefront of the anti-corruption crusade. In 2015, the institute launched a Whistle-blower Fund in the sum of N50 million to support our members who may be persecuted for blowing the whistle.
“To reinforce the achievements so far recorded, we will deploy our expertise to assist the government in the crusade against sharp practices in high and low places. I recall that ICAN was the main driving force of the Regulators and Auditors Forum during the banking crisis. Through that platform which involved the CBN, NDIC, CAC, SEC, NASB (now the Financial Reporting Council of Nigeria), a lot of policy initiatives were evolved to sanitise the financial services sector in the interest of the larger society,” he stated.

The investiture was witnessed by several dignitaries including some of the institute’s past presidents including Mrs. Olutoyin Olakunrin, Chief Musiliu Anibaba, Mr. Emmanuel Ijewere, and Deacon Titus Soetan among others. Other dignitaries were Deputy Governor of Ogun State, Mrs. Yetunde Onanuga, former Minister, Odein Ajumogobia, as well as representatives of governors of Lagos and Kwara states.