Adebayo Adenrele
The Institute of Chartered Accountants of Nigeria (ICAN) has debunked rumours making the rounds on the internet that the body is funded from the subvention of Federal Government.
In a statement by its Registrar/ Chief Executive, Professor Ahmed M. Kumshe, ICAN is funded through members’ subscriptions and other incomes from partnerships with well meaning organisations in the country.
The statement reads, “The attention of the Institute of Chartered Accountants of Nigeria (lCAN) 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.”
