Business

ACCA, CIBN others to convene to tackle corruption

Published

9 years ago

June 12, 2017

By Chioma Obinagwam

The Presidential Advisory Committee Against Corruption (PACAC) in collaboration with the Association of Chartered Certified Accountants (ACCA), The Convention on Business Integrity (CBi) and the Chartered Institute of Bankers of Nigeria (CIBN) have joined forces to tackle fraud and financial corruption in the country’s banking and finance sector.

The ACCA disclosed in a statement on Monday.

According to the statement, the anti-corruption programme with the theme: ‘Financial Systems Integrity Improvement,’ is a conference scheduled for 30th June, 2017 in Abuja.

The conference, the statement stated, will address regulatory and institutional measures being taken by the financial services sector and regulators to minimize fraud and corruption in the sector, the effectiveness of such measures and required steps to close existing gaps and effectively sanction breaches by few defaulting players.

“The collaborating partners are persuaded that all stakeholders in the financial services sector share a common goal for enthronement of systemic integrity and accountability in the light of existing self-regulating measures albeit inadequate. Therefore, the conference will identify further preventive and practical measures required by the players and regulators to tackle fraud, corruption and other forms of financial crimes,” the ACCA said.

The Keynote speaker for the event will be Nick Leeson, whose dealings at Barings Bank led to the collapse in 1995 of one of Britain’s oldest financial organisations.

The conference will be attended by key players in the financial services sector including the Minister of Finance, Governor of CBN, Chief Executives of Banks and other financial institutions, compliance officers of banks, private sector operators, consumers of financial services, civil society and representatives of the diplomatic community.