The Institute of Chartered Accountants of Nigeria (ICAN) has clarified that it has never received funding through the Federal government or any of its institutions.
The Budget Office had issued a circular notifying some professional bodies that effective January 2024, they will no longer be captured in the budget.
Following the development, ICAN – one of the professional bodies in Nigeria – while reacting to a publication noted that at no time did the Federal government extend financial support to it.
ICAN, through a statement on Thursday, said: “Out attention has been drawn to a publication in the media on the recent pronouncement by the Director General of the Budget Office on the Discontinuation of Funding of Professional Bodies and Councils in Nigeria from 2026, in line with the decisions of the Presidential Committee on Salaries.
“In reporting the pronouncement, The Nation Newspapers in its online publication on June 29, quoted ICAN as one of the Bodies who receive funding from the Federal Government. We wish to state categorically that ICAN does not receive funding from the government or any other organisation.
“Our Institute is funded through our members subscriptions and other incomes from our partnerships with well meaning organisations in Nigeria. We therefore call on The Nation Newspaper to withdraw this story and report the correct information provided by the circular issued from the Budget office of the federation and signed by the Director General, Mr. Ben Akabueze. PROF.AHMED M. KUMSHE, FCA Registrar/ Chief Executive