The Institute of Chartered Accountants of Nigeria and the Society of Women Accountants of Nigeria have said the organisations will support the Federal Government?s anti-corruption drive in order to enhance economic recovery.
The organisations spoke in Lagos at an annual luncheon of SWAN organised in honour of the President of ICAN, Mr. Titus Soetan.
SWAN is the women wing of the professional body.
Soetan, who stressed that the professional bodies would support the Federal Government to boost the anti-corruption crusade, however, advised the economic managers to focus more on projects and programmes that would positively impact the people and put the economy on the path of recovery.
According to him, the way to make foreign exchange available in the country is for the government to embark on ?practical economic diversification? and encourage local production.
He said, ?Scarcity of forex is not the fault of the banks because they cannot sell what they don?t have. The issue is that we have little forex in our coffers and what we must do is to ensure that we don?t spend them on unnecessary things like toothpick.
?Let us produce food in our country. If we are not importing unnecessary things, there will be sufficient forex and banks would be able to give the productive sector of the economy. But when we are importing everything, there is no amount of money we have that will cover it. So, it?s not the fault of banks that we don?t have enough forex in our system.?
The Chairperson, SWAN, Titilayo Akinbayo, urged the Federal Government to improve the power infrastructure to revamp the ailing economy.
She also advised the government not to underplay the significant role of Small and Medium scale Enterprises in the economic recovery.
Akinbayo, who stated that the professional body would not shield any erring member found to be corrupt, said, ?The essence of today?s meeting is to celebrate the ICAN president because it is our custom in SWAN to do that.
?The organisation is in support of the Federal Government war against corrupt practices in the country. They should diversify the economy in order to generate forex for the economy particularly in the area of agriculture.?