CHALLENGES AND LANDMARK ISSUES IN ACCOUNTING PROFESSION

 By Nnabugwu Chizoba

The City of Owerri, Capital of Imo State, welcomes participants of the 4th Session of the Mandatory Continuing Professional Development (MCPD), Programme, of the Association of National Accountants of Nigeria (ANAN), holding from Monday, 1st to Thursday, 4th August, 2016.

AFRICA RESCUE PROJECT: THE CHALLENGE BEFORE ANAN IN THE GLOBAL MARKET.

By Nnabugwu Chizoba

From available records, the Association of National Accountants of Nigeria (ANAN), has attained enviable height. This is due largely to the fact that the Association has continuously taken deep and reflexive look at the government, the people, and the processes, in her programme design, capacity building, and networking. Others are the Association’s passionate stand on Accountability, Integrity, Competence and functional learning, diligence and Nigeriancentrism, which are easily identified in the body language of ANAN. 

ANAN’s systematic and synergetic methodology at searching and identifying new, and suitable frameworks for sustainable development, of Nigeria, is awesome. It recognizes and combines short and long-term changes to meet current mainstream. 

The above is manifest, in the Association’s monitoring and evaluation efforts, in the skills evolution process, and engendering programmes. It has also reflected in the leadership of ANAN, in the ability, over the years, to create, inspire and motivate a team of knowledgeable and skillful Professionals to pursue a common vision and, very importantly to follow-up and ensure the attainment of such vision and goals.

“CIVIS NIGERIANUS SUM” - I AM A CITIZEN OF NIGERIA.

A Speech by H.E. Dr. Goodluck Ebele Jonathan, Former President of the Federal Republic of Nigeria. Delivered at Bloomberg Studios, London, United Kingdom. Monday, 6 June 2016

FAILURE: THE STRENGTH AND COMPANION OF THE SUCCESS MINDED

                                             Welcome to

By Nnabugwu Chizoba

Life is full of mysteries, secrets and indeed too many unknowns. At one extreme, is the fact, that some of the things, we consider as truth, at a point in life, turns out to be falsehood. At the other extreme is the realization that the things we saw as lies eventually turn out to be truth. 

The above assertion is aptly captured, when we carefully consider the bashing that failure has received in the hands of men and women, in spite of the tremendous role it has played to take people to the apex, up the ladder of success.

I suggest that you pause at this point, to review the lofty contributions that failure has made in the life of men and women, the world has celebrated and continues to celebrate as great success, icons, outstanding celebrities, and achievers.

ABIA GOVERNORSHIP JUDGMENT: FEDERAL HIGH COURT ABUJA, MAKES CLARIFICATION

The attention of the Federal High Court has been drawn to the misrepresentation of facts as published in some electronic and print media and comments by both legal practitioners and laymen on the correct facts of the cases involving the Abia State Governor and the Judgment of Hon. justice O. E. Abang and Hon. Justice A. L. Allagoa.

It should be stated and for the purposes of clarity that:-

* While Sir Friday Nwosu is the Plaintiff in the case before Hon. Justice Allagoa, Dr. Ikpeazu and Dr. Sampson Ogah, are Defendants.

* In the suit before Hon. Justice Abang, Dr. Sampson Ogah is the Plaintiff while Dr. Ikpeazu & Sir ‘Friday Nwosu are defendants.

The main relief in the case before Justice A. L. Allagoa, (where Sir Friday Nwosu is the Plaintiff) is bothered on forgery or falsification of Tax Certificate and/or Receipts for 2011, 2012, 2013 & 2014 as contained in. questions 4, 5, 6, 7, 8 Sr 9 of the writ.

The Hon. Judge held that a mere nebulous averment is not enough for the purpose of pleading the crime of forgery. Forgery is a criminal offence and must be proved which the Plaintiff failed to do.

CONCENTRATING EFFORTS, WORKING HARD TO INCREASE TAX COLLECTION, WITHOUT SIMILAR EFFORTS TO IMPROVE TAX COLLECTION, IS INIMICAL TO DEVELOPMENT

By Nnabugwu Chizoba

Under the Nigerian law, Taxation Policy, is enforced at 3 different levels, referred to as the 3 tiers of Government. The levels, include the Federal, State, and Local Governments. 

A close look at the structure of governance and political administration, in Nigeria, reveals that there is a Federal Government, at the centre, 36 State governments, and the Federal Capital Territory, (FCT), Abuja, and 774 Local Government Areas. 

Each of the entities noted above, has its sphere of Tax jurisdiction, administration and control, clearly spelt out, well enunciated, systematically and structurally outlined in the Taxes and Levies (approved list for Collection) Decree, 1998.

Governments, at all the spheres of governance in the country, have made laudable and concerted efforts to increase Tax collection in their areas of Tax jurisdiction and control. That the efforts, have not yielded the desired results, is a major concern to government, at different levels. It is a very clear indication of revenue loss, a depletion and/or leakage, if you like, of revenue expected to accrue to government. It is also an indication, that some mistakes has been made, are still being made, in terms of Tax Administration; or at least that things can be done differently or both. 

YOU DON’T WAIT OR GO ABOUT LOOKING FOR NON EXISTING JOB, WHEN YOU CAN TRANSFORM YOUR PASSION INTO MONEY EARNING VENTURE – ANUONYE FELICITY

By Nnabugwu Chizoba

Many Commentators on the Nigerian socio-economic condition has written severally, that unemployment in the country is alarming. They have also identified it as a source of very serious concern, apprehension and worry.

According to the commentators, unemployment, especially, of the youths, is one of the many pressing challenges facing the Nigerian Nation, presently.

The ripple effects of unemployment, include, but not limited to the rising number of poverty stricken men and women, incessant hostilities, violent crimes, threat to national unity and peaceful co-existence, in addition to lack of respect for law and order. These unfortunate, destructive tendencies occur at both the rural and urban centers of the Country. As a matter of fact, they occur at very regular rate.

The youths are very important stakeholders, in any economy. They are considered as the future of any nation, having been strategically situated, as highly dependable resource, for nation building, stability and sustainable development.