By Gbenga Adedayo
The Institute of Chartered Accountants of Nigeria (ICAN) has embarked on a house-cleaning exercise aimed at repositioning the Institute and eliminating financially handicapped members from its rank.
The affected members totaling 25,557 (twenty-five thousand, five hundred and fifty-seven) members are said to have defaulted in their financial obligation to the Institute.
Of these numbers, a total of 11,240 (eleven thousand, two hundred and forty) were being placed on suspension for owing the Institute between six months to three years, while the other 14, 337 (fourteen thousand, three hundred and thirty-seven) members were being delisted for owing up to six months and beyond.
However, the affected members have been given a grace of two weeks by the Council of the Institute to pay up all outstanding dues if they were desirous of escaping the harmer. The payment window will expire on November 19, 2019.
In a letter dated November 5, 2019 and signed by the Registrar and Chief Executive Officer of ICAN, John Evbodaghe, members were advised to take advantage of the two weeks grace to reconcile their financial status, failing which, the Institute reserved the right to publish the names of debtors in national newspapers.
The letter which was addressed to each of the affected members, read in part: “Following our letter of October 3, 2019 on the above stated subject and several publications in national newspapers and ICAN website, the Institute has now concluded the following:
- Suspended eleven thousand, two hundred and forty (11,240) non-financial members who are owing for six (6) months and three (3) years, and
- Delisted fourteen thousand, three hundred and thirty-seven (14,337) non-financial members who are owing for more than three (3) years effective from November 1, 2019.”
“You are enjoined to check your financial status or those known to you on the ICAN Website – www.icanig.org (Financial Members Search) and take necessary actions to regularize your membership if you are not on the Financial Members’ List.”
The letter stated further, “Please note that there are conditions to be met before those delisted or suspended could be re-admitted to full membership and no responses on enquiries from the public will be given on behalf of any indebted member.”
When Media Issues sort to enquire from the Registrar/CEO, John Evbodaghe through telephone on the conditions to be met by the affected members before re-admission, there was no response.
The Institute of Chartered Accountants of Nigeria (ICAN) is a professional accountancy body in Nigeria and was established by Act of Parliament No. 15 of 1965. Since then, its membership has grown to over 55,000.