The Chartered Institute of Treasury Management (CITM) has called for unity and collaboration among professional bodies in Nigeria, responding to recent comments by the President of the Institute of Chartered Accountants of Nigeria (ICAN), Mallam Haruna Nma Yahaya, on the alleged proliferation of professional organizations.
In a statement signed by its Registrar and Chief Executive, Adedoyin Olumide, CITM described Yahaya’s remarks as “divisive” and capable of undermining the authority of the Nigerian Parliament, which established professional bodies through legislative acts.
While acknowledging ICAN’s 60 years of contribution to the accounting profession, CITM rejected any suggestion that other professional bodies are inferior. Olumide stressed that the institute was legally established by the Chartered Institute of Treasury Management Act, 2021, to strengthen Nigeria’s financial system through a focus on treasury management, liquidity management, financial risk management, and corporate finance.
“The issue of so-called ‘proliferation’ undermines the sovereignty of the law. Our specialization enhances expertise and drives economic efficiency, in line with global trends,” the statement noted.
READ ALSO: NEPC equips entrepreneurs with export skills at Lagos Mainland Trade Fair
Olumide further explained that ICAN and CITM have distinct yet complementary mandates, and that developed economies succeed by fostering synergy among professional institutions.
He urged ICAN’s leadership to embrace inclusivity and collaboration, rather than divisive rhetoric, adding: “CITM remains open to partnerships that advance Nigeria’s economic stability and financial growth.”
About the Author
