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Association Cautions Accountants Against  Unethical  Practices

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Association of National Accountancy of Nigeria has called on accountants in the country to uphold the highest level of ethical standards in the discharge of their professional duties.
First vice president of the association  Chief  James Neminebor said this in Port Harcourt at a seminar for  members of the association.
The seminar which  coincided with the 2021 International  Accountants  Day has as it’s  theme, “Information Technology and  Accountancy profession, impact, Challenges and Prospect.
Neminebor said that  accountants creat value and make the society  better for all.
He said  accountants should also act as  mirrors of the society, stressing that the public  attaches greater confidence in them and  hold the accountants in High esteem.
He said members of the profession should also avail themselves of the opportunity provided by the digital age to improve their services to the  society.
Neminebor also commended the  Rivers State  chapter for organising the seminar.
In his welcome  address  the  Rivers State Chairman of the Association  Elder Chidi Orlu said apart from celebrating the International  Accountancy  Day, “the event was also to  enlighten the  participants of one of the emerging critical areas in the accountancy profession.
According to him, the accountancy profession has become  a key  in global economic  development, playing an indispensable  role in  public and private sector resource allocation, effective  reporting and performance  management.
He said the  role of the accountant is therefore  on  a steady  increase both in terms of volume and in complexity and therefore  must  cope with the  rising demands  and  deploy appropriate  cutting edge and tools one of which is the digital accountingskills and tools.
The chairman said the association has always been in the forefront among  global professional  accountancy organisations and was the first to direct  that the event be made  part of the annual programmes of all the branches in the country.

By: John Bibor

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SMEs

NASME Tasks Entrepreneurs To Use AfCFTA To Grow Businesses

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The Nigerian Small and Medium Enterprises Association (NASME) has called on Micro Small and Medium Enterprises (MSMEs) to explore the benefits that the Free Trade Agreement (AfCFTA) offers to grow their businesses.
NASME National President Dr. Abdulrashid Yerima made the appeal in an interview with The Tide source in Abuja.
It also commissioned entrepreneurs to explore the 18th MSME Summit and Expo positioned to provide a powerful platform to expose MSME operators to opportunities to do business within and outside Nigeria, especially within African countries.
The theme of *the summit scheduled for Thursday and Friday in Abuja is “Positioning MSMEs* for the opportunities of the African Continental Free Trade Agreement.”
“While the event would provide an avenue for industry experts to discuss a regulatory framework for full participation in AfCFTA, it would expose MSMEs to various financing windows for development projects.
It would also stimulate an efficient synergy that could drive the growth and development of MSMEs in Nigeria, as well as create marketing opportunities for products made in Nigeria,” Yerima said.
We gathered that no less than 300 MSMEs are expected to exhibit their products and services, among others.

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SMEs

PH Co-Operative Floats Microfinance Bank, Next Year

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The President of iEBS-Matrixx Co-operative, Amb Larry Goodwill Ajiola, says the group has concluded plans to float a Microfinance Bank in Port Harcourt in 2022.
Ajiola said this during the Co-operative’s last general meeting for the year at L A Kings in Port Harcourt over the weekend.
iEBS President said the Co-operative members would have their passbooks and identity cards, stating that the group would launch into, “real estate ownership, home appliance ownership and transportation business ownership”.
He also noted that other co-operatives are affiliating with iEBS-Matrixx on the federal government loan and other investment which would kick-off next year.
Ajiola reiterated that the group has met all the requirements for the disbursement of some of the loans, which he said maybe accessed before the end of the year.
He expressed worry over what he called impatient and insulting attitude of some members towards federal government loans and grants, adding that most times some leaders frustrate what is expected to benefit the masses.
The secretary of the Co-operative, Mr. Ifeanyi …….. stated the need for the members to be prayerful, adding that the leaders need the grace of God to execute the investment plans.
He noted that most times those at the herm of affairs sits on approvals that have already been given, adding that it takes prayers for such approvals go through.
In his contribution, the chairman of one of the affiliated group, ‘Crested Wealth co-operative’, Mr. Homfrey Ogebek, expressed satisfaction for affiliating with iEBS-Matrixx.
Ogebek noted that his group has generated over 250 members within two weeks for some of the Co-operative programmes, adding that his group has members across the nine states of the South South and South East zones.
Referring to the tension in the members, he said, “it is not easy to lead people. The challenges are much, so there is a great need for members to keep faith alive because iEBS-Matrixx has a huge investment at hand”

By: Lilian Peters

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SMEs

BoI Honoured For Financial Inclusion Initiatives

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The Bank of Industry (BoI) has been honoured at the just-concluded Sust-ainability, Enterprise and Responsibility Awards also known as the SERAS CSR Awards 2021.
Specifically, BoI won the award for the ‘Best Company in Financial Inclusion’ in recognition of its development impact in providing solutions to ensure that financial services are more accessible to unbanked and under-served groups. The Bank also received the award for ‘Best New Entry.’
Speaking on the awards, Managing Director/Chief Executive Officer, Bank of Industry, Olukayode Pitan, said “We are honoured to be recognised for our continuous efforts and strategic investments aimed at improving financial health and inclusion within Nigeria’s business landscape and economy.
“We remain committed to galvanizing more resources to scale up impact for economic, environmental and social responsibility, in line with our business strategy for sustainable development.
“These awards align with our mission of transforming Nigeria’s industrial sector through sustainable business practices as Africa’s leading Development Finance Institution operating under global best practices.”

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