A campaign has been organized by the Institute of Chartered Accountants of Nigeria, ICAN, to suggest unconventional methods of improving Nigeria’s economic standing.
ICAN President, Mrs Comfort Olu Eyitayo outlined the challenges requiring such a model during the ICAN 2021 Mid-Year Economic Discourse with the theme: “X-Raying the Nigerian Economy: Problems And Prospects”.
She stated: “The distortions in social, political and economic dynamics call for unconventional models for addressing the seemingly intractable national problems.
“The security challenge continues to grow every day, foreign exchange volatility is damaging businesses, high inflation rates make investors’ decisions meaningless, low budget implementation and monitoring have led to poor living standards, and infrastructure gaps have made meaningful development impossible.
Mr. Felix Bajomo, Past President of ICAN, stated that unconventional methods must be employed to address Nigeria’s problems, saying: “bad economies lead to disrespect for countries, unjust laws, indirect enslavement, among other things.
If the value of your currency declines, you have a problem because the prosperity of a country is measured by its currency.”
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