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Expert Moves To Raise Auditing, Accounting Standards

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The Managing Partner of Horwath Dafinone (Chartered Accountants), Chief Igho Dafinone said the company intends to partner with all interested bodies in raising the standard of accounting, tax and economic professional practice in Nigeria.

Dafinone spoke to our correspondent in Lagos at the send-forth party organized in honour of the  retired managing partner   of the company, Mr. Praveen Bhasin.

Mr Bhasin retired from the practice of accounting after thirty four years of meritorious service in the firm.

He joined the practice on October 2nd, 1979 after qualified as a member of the Institute of Chartered Accountants in England and Wales, having completed his articles with Hays Allan in London.

He was appointed as a partner in 1982 and promoted to the managing partner on March 12th, 1997, a post he held till his retirement date.

Dafinone said to ensure that accounting and auditing practice continues to assist the general business community and the government to make better decisions for the country as a whole it is crucial that the profession rise to the demands to society and those that do not wish to do so realize that times are changing and they risk increasingly stiffer sanctions as people refuse to bear the losses arising from their actions.

He described the ex-managing partner as urbane gentleman and a thorough professional who demanded the highest possible standards of ethics and discipline and will be greatly missed by the company.

Chief Dafinone, a 1980 graduate of University of Manchester and a post graduate of Exeter University, joined the firm in 1987 from Touche Ross & Co. in London and has had 26 years of professional experience.  Over the years, he has been involved as the engagement partner on several change engagements, which have included company restructuring and strategic planning.

Dafinone emphasized the importance of continuous training and retraining of manpower which he attributed to the success of the organization while promising to build on the legacy of his predecessor Mr Praveen Bhasin.

”You are going to see more robust and professional accounting firm in the next few years” he promised.

Earlier in his remarks, the retired managing partner described his thirty four years in the company as not only a journey but an experience worthwhile.

Meanwhile, the company has announced the promotion of Dr. Daphne Dafinone as the Chief Operating Officer.

Dr. D Dafinone, a partner in charge of corporate governance joined the firm in 1990 from KPMG London and has had 24years of professional experience.  Over the years, she has been involved as the engagement partner on several change engagements, which have included company restructuring and strategic planning. She specialises in corporate governance consultancy and has core expertise in the publicly quoted companies.

Horwath Dafinone is one of the largest indigenous accounting and consulting firms in Nigeria. The organization assists public and private company clients in reaching their goals through audit, tax, advisory, risk and performance services. With over 100 personnel, the firm serves clients throughout Nigeria and worldwide as an independent member of Crowe Horwath International, one of the largest networks in the world, consisting of more than 140 independent accounting and management consulting firms with offices in more than 400 cities around the world.

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Association Woos Govt, Coys On  Boat Operators  Employments

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The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
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FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
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NIWA Harps On  Avoidance Of Leaking Boats

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The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
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