In a move aimed at enhancing the quality of financial reporting and ethical standards in Nigeria’s accounting profession, the United Bank for Africa (UBA) and the Institute of Chartered Accountants of Nigeria (ICAN) have entered into a strategic partnership to promote excellence and capacity building in the sector.
The collaboration, unveiled during a joint press briefing held at UBA’s Head Office in Lagos on Tuesday, will focus on professional development, mentorship programs, and continuous education for accounting practitioners and students.
According to UBA’s Group Managing Director, Oliver Alawuba, the partnership aligns with the bank’s commitment to transparency, accountability, and capacity-building across the continent’s financial ecosystem.
“We believe that strong financial institutions must be supported by a robust accounting profession. This partnership with ICAN is a strategic investment in Nigeria’s future,” Alawuba stated.
ICAN President, Dr. Innocent Okwuosa, echoed the sentiment, describing the collaboration as timely and transformational. “Our partnership with UBA will not only empower accountants with global best practices but will also help to instill the highest levels of ethics and professionalism in the industry,” he said.
Under the agreement, UBA will support ICAN’s ongoing training initiatives, sponsor academic programs, and offer internship opportunities for young accounting professionals across its pan-African network.
Industry analysts say the partnership could serve as a model for public-private collaboration in strengthening corporate governance and financial integrity in Nigeria and beyond.
“This is a welcome development at a time when financial discipline is critical to economic recovery and investor confidence,” said Adeola Adeyemi, a Lagos-based finance consultant.
The announcement comes as Nigeria continues to grapple with challenges related to financial mismanagement in both the public and private sectors, underscoring the need for sustained efforts to build competence and credibility in the profession.
Both organizations affirmed their commitment to long-term cooperation, with plans already underway to host a series of national conferences and workshops in the coming months.
