ICAN pledges innovation, installs 62nd president

The Institute of Chartered Accountants of Nigeria has reaffirmed its commitment to innovation, transparency and institutional reform as it installed its 62nd President at a ceremony held on Tuesday in Lagos.

The leadership transition took place at the ICAN Council Chambers in Victoria Island, where members of the profession, government officials and industry leaders gathered for the investiture of Hajiya Seghosime as the new president of the institute.

The ceremony also featured a valedictory address by the outgoing 61st President, Mallam Haruna Yahaya, who used the occasion to review a year in office defined by digital reform initiatives, professional capacity building and efforts to reposition the institute for a rapidly evolving financial landscape.

ICAN, Nigeria’s foremost professional accounting body, said the leadership transition comes at a time when the profession is facing heightened expectations around digital competence, regulatory compliance and global competitiveness.

In his farewell address, Yahaya highlighted a 10-point agenda that guided his presidency, anchored on strengthening institutional governance and modernising core processes, particularly the institute’s examination system.

He said ICAN had commenced a phased digital transformation of its professional examinations, including the introduction of secure, technology-driven, proctored online assessments to improve efficiency, transparency and the candidate experience. The initiative, he said, represented a structural shift in how accounting qualifications are administered in Nigeria and was central to maintaining the institute’s relevance in a technology-driven environment.

Yahaya also pointed to efforts to reposition ICAN’s brand, expand stakeholder engagement and deepen its role in national policy discussions, particularly around financial inclusion and economic governance. He said the institute had strengthened outreach to universities, corporate organisations and public institutions while also expanding its international partnerships through global accountancy bodies.

A key focus of the outgoing administration, he added, was engaging younger professionals and students, with programmes designed to attract and retain Gen Z entrants through digital platforms, mentorship schemes and flexible learning pathways.

“We intensified youth-focused engagement programmes, including digital town halls and social media campaigns,” he said, noting that student registration and interest in the profession had increased during the year.

Yahaya also highlighted initiatives to improve member employability through training in emerging areas such as data analytics, sustainability, risk management and technology-driven audit practices.

According to him, ICAN had also strengthened support for small- and medium-sized practitioners by establishing an academy to improve technical competence and practice standards.

On governance and accountability, he said the institute had deepened collaboration with anti-corruption agencies and regulatory bodies, including the introduction of forensic accounting programmes and new partnerships aimed at strengthening transparency in both public and private sectors.

He added that ICAN’s 60th anniversary celebrations served as a platform to reposition the institute beyond its historical legacy towards a more future-oriented professional body.

Delivering his closing remarks, Yahaya said the institute had been strengthened during his tenure and urged the incoming leadership to build on ongoing reforms.

 “The foundation has been strengthened. The vision has been clarified. The opportunities before us are immense,” he said.

The new ICAN President, Hajiya Seghosime, takes over leadership of the institute at a time when Nigeria’s financial sector is undergoing rapid transformation driven by digital payments, regulatory reforms and increasing demand for professional accountability.

The institute said the incoming leadership is expected to consolidate ongoing reforms while deepening ICAN’s role in shaping accounting standards, financial governance and professional education in Nigeria and beyond.

The ceremony was attended by senior government officials, including representatives of state governors, ministers, regulators, traditional rulers and leading figures in the private sector, underscoring ICAN’s influence in Nigeria’s economic and governance architecture.

In his remarks, Edo State Governor Monday Okpebholo commended ICAN for its contribution to strengthening accountability and governance in Nigeria. He specifically referenced the ICAN Accountability Index, describing it as a valuable tool for measuring public sector performance and promoting transparency across institutions.

“Such independent assessments provide valuable feedback that helps governments measure progress and identify areas for further action,” he said.

He also urged the new ICAN leadership to continue strengthening professional ethics, institutional capacity, and support for the next generation of accountants.