A former Managing Director and Chief Executive Officer of the Nigerian Deposit Insurance Corporation (NDIC), Hassan Bello, has called on professional accountants in Nigeria to embrace digital tools in response to technological disruptions affecting the profession. He emphasised that this shift is essential for remaining relevant to national development.
Call for Digital Adoption
Speaking at the 77th induction ceremony of 1,993 new professional members of the Institute of Chartered Accountants of Nigeria (ICAN) in Lagos, Bello urged the government and organisations to create information and communication technology-friendly environments. He noted that such environments would enhance the growth of technology and artificial intelligence adoption in Nigeria.
Bello acknowledged that the accounting profession in Nigeria has traditionally relied on manual processes and paper-based systems. However, with rapid advancements in digital technologies such as cloud computing, artificial intelligence, and data analysis, the profession is undergoing a major transformation. He stated, “We have seen increased demand for tech-savvy accountants in both public and private sectors. Remote work is also gaining momentum. This positions us well to elevate our capabilities in blockchain and artificial intelligence to deliver quality services to clients.”
Digitalisation Beyond Paper Replacement
Speaking on the theme ‘Nigerian accountants and digitalisation’, Bello explained that the profession now goes beyond simply replacing paper with computers. Digital tools help accountants move from manual reporting to higher-value financial analysis and advisory services. He stressed that protecting financial data becomes critical, requiring accountants to understand multi-factor authentication, password security, backup systems, and other safeguards.
“Accountants need to digitalise because modern business and finance increasingly depend on speed, accuracy, compliance, and real-time information. Digitalised accounting systems reduce human errors from manual calculations and data entry, enhancing the accuracy, timeliness, and reliability of financial reports, and by extension, the quality of financial reporting,” Bello added.
Challenges to Digitalisation
Bello, who served as the Special Guest of Honour, expressed concerns about challenges slowing down full-blown digitalisation in Nigeria. These include infrastructure gaps, particularly electricity and internet connectivity issues, server security concerns, and a lack of digital cities. He lamented that many accountants lack adequate training in modern technologies.
ICAN President’s Advice
The President of ICAN, Dr Haruna Yahaya, expressed confidence that the professional examination process has equipped new members with the competence, discipline, and analytical sharpness needed to excel. He urged them to reflect on the exceptional quality of their training and maintain the highest professional standards throughout their careers.
“As national accountants, you will have access to delicate and highly sensitive financial information, which comes with various responsibilities. You must exercise absolute confidentiality, sound judgment, and maturity in handling such information,” Yahaya said. He warned that a single careless disclosure could lead to significant financial, legal, and commercial consequences.
Yahaya further advised the professionals to build the highest standards of professionalism as the world continues to evolve, driven by technology, innovation, and global integration. He noted that this advancement offers opportunities but also introduces complex technical and professional challenges. “Let discipline, accuracy, integrity, accountability, and sound judgment guide you as you navigate the digital era. Do not merely process transactions at face value, do not merely prepare reports and share them socially, and do not merely look for opportunities but build expertise that makes opportunities more unique,” he said.
Vice President’s Remarks
The Institute’s Vice President, Queensley Seghosime, stated that the induction marks the beginning of a lifelong commitment to integrity, excellence, and service. She expressed confidence that the inductees will uphold the values of the accounting profession and make the Institute proud.
The event also featured the presentation of prizes to members who distinguished themselves in various examination diets and subjects of the Institute.
