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 various professions. He urged the government and organizations to create information, communication, and technology-friendly environments to foster the growth of technology and artificial intelligence adoption in the country.
Bello made these remarks during the 77th induction ceremony of 1,993 new professional members of the Institute of Chartered Accountants of Nigeria (ICAN) held in Lagos. He noted 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 analytics, the profession is undergoing a significant transformation that benefits practitioners.
“We have observed an increasing demand for tech-savvy accountants in both public and private sectors. Remote work is also gaining traction, positioning us favorably and enhancing our capabilities in blockchain and artificial intelligence to deliver quality services to clients,” Bello stated.
Digitalisation Beyond Paper Replacement
Speaking on the theme ‘Nigerian Accountants and Digitalisation’, Bello emphasized that the profession now goes beyond merely replacing paper with computers. Digital tools enable accountants to shift from manual reporting to higher-value financial analysis and advisory services. “Protecting financial data becomes critical. Accountants must understand multi-factor authentication, password security, backup systems, and other measures. Digitalisation is essential because modern business and finance increasingly rely 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, thereby improving the quality of financial reporting,” he explained.
Challenges to Digitalisation
Bello, who served as the Special Guest of Honour, expressed concerns about challenges hindering the full implementation of digitalisation in Nigeria. These include infrastructure gaps, particularly issues with electricity and internet connectivity, server security, and a lack of digital cities. He lamented that many accountants lack adequate training in modern technologies.
ICAN President, Dr. Haruna Yahaya, stated that the Institute is confident that the professional examination process has equipped the new members with the competence, discipline, and analytical skills needed to excel. He stressed that they must 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 sensitive financial information, which comes with various responsibilities. You must exercise absolute confidentiality, sound judgment, and maturity in handling such information,” he said.
He cautioned that a single careless disclosure could lead to significant financial, legal, and commercial consequences. Dr. Yahaya further advised the professionals to uphold the highest standards of professionalism as the world continues to evolve, driven by technology, innovation, and global integration. This advancement, he noted, offers opportunities but also introduces complex technical and professional challenges. “Let the discipline of 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.
The Institute’s Vice President, Queensley Seghosime, remarked that the induction marks the beginning of a lifelong commitment to integrity, excellence, and service. She expressed confidence that the inductees would 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 subjects.
