Alaribe Emerges ICAN President

Dike Onwuamaeze

Mr. Davidson Chizuoke Stephen Alaribe, who was sworn in yesterday as the 60th president of the Institute of Chartered Accountants of Nigeria (ICAN), has pledged to pursue the establishment of ICAN University and the enhancement of chartered accountants’ digital technological capacity.

Alaribe, who took his oath of office during his investiture as the Diamond President at ICAN’s head office in Lagos, said the theme of his presidential year would be “Upholding ICAN’s Legacies” by deepening professionalism, accountability and transparency that had been the modus operandi of ICAN. 

He said: “It is, therefore, with humility, a profound sense of responsibility, and a determination to continue to serve selflessly that I, Chief Davidson Chizuoke Stephen Alaribe, FCA, graciously accept my election as the 60th President and flag bearer of the accountancy profession in Nigeria, as pioneered and represented by the Institute of Chartered Accountants of Nigeria, for the 2024/2025 presidential year.

“My standing here today can only be by the special grace of God who has the final say in my life.

“The goal of this presidential year is to deepen this resolve by bolstering already-existing initiatives and engendering new ones against the backdrop of present realities” through the pursuit of “the agenda that we have codified in the acronym DIAMOND.”

One of the core elements of his DIAMOND Agenda is to enhance the digital and technological savvy of professional accountants in Nigeria.  

“In this presidential year, we shall revisit our technological architecture to create an institute that constantly and effectively adds value to members and stakeholders through cutting-edge information technologies. 

“We will create a technical committee on Artificial Intelligence (AI), which will be saddled with the responsibility of regularly informing members on the potential of AI for chartered accountants and how this technology can be leveraged for improved and efficient services to society.

“This committee will equally equip members with the skills required to derive maximum benefits from AI technology, such as deploying prompt engineering to take advantage of generative AI.

“The infusion of emerging technologies in our services and processes will also be critical in our overall strategic intent of attracting the millennials and Gen Zs into the profession.”

He added: “My team and I will rigorously pursue the establishment of ICAN University, which is envisaged to serve as the best-in-class institution for research and innovation in accounting, finance, and management disciplines.”

Alaribe also said he would commit his presidential year to ensuring the realisation of the amendment of ICAN’s Act.

 “We will prioritise and sustain effective communication with stakeholders in the value chain of getting our Act amended. We will make a convincing case that our request for amendment is for the good of the profession and the economy,” he added.

He added that the institute would continue to update the contents of its examinations syllabi, training, and other capacity-building initiatives to ensure that they are aligned with present realities.

“In line with global dynamics, we will endeavour to commence online examinations. We will place more emphasis on areas like sustainability reporting and generative AI,” he said.

Alaribe also acknowledged the significant improvement achieved in the last the tunure of his immediate predecessor, the 59th President of ICAN, Dr. Innocent Iweka Okwuosa, on the issuance and renewal of the institute’s practice licence.

Iweka, in his valedictory remarks, said that his presidential year as the 59th president of ICAN was able to improve relationship with the body of past presidents of ICAN and made the voice of ICAN to be heard through the publications of 10 position papers on topical national economic issues and other public engagements.

He wished his successor a very successful tenure.