Accountants must account for results, not just spending –Tinubu

President Bola Ahmed Tinubu has emphasized that accountants must shift their focus from merely recording government expenditure to determining the actual results achieved by public funds. This was stated during the 31st Annual National Conference of the Association of National Accountants of Nigeria (ANAN) in Abuja. Tinubu, backed by the Accountant-General of the Federation, Dr. Shamseldeen Babatunde Ogunjimi, argued that the primary concern should be on what was achieved with the spent funds, rather than how much was spent.

He highlighted that the country is currently undergoing reforms in various economic sectors, including public finance, budgeting, revenue, and taxation, and the role of accountants is crucial in these changes.

Tinubu further suggested that accountants should be actively involved in policy and spending decisions early on. They should identify potential risks, question assumptions, and provide evidence to guide decision-making processes. Similarly, the Deputy Governor of the Central Bank of Nigeria, represented by Dr. Rakiya Opemi Yusuf, pointed out that accountants should no longer wait to report on what has already happened. Instead, they should play a more proactive role in preventing risks.

Hajia Zuwairat Talatu Kishimi, the President and Chairman of the Council of ANAN, stressed that accountability should begin before public resources are committed, not after they have been spent. She proposed that accountants should inquire about the intended outcomes of a project, its expected cost, the associated risks, and how its performance would be measured. Kishimi believes that the existing gap between the resources allocated and the results achieved is an accountability gap that accountants can help bridge.