Financial frauds pose threat to Nigeria’s survival, says Prof. Kida
|By Musa Ishaq
An accounting guru and Dean, Faculty of Management Sciences, Professor Mohammed Isa Kida, has warned that unless Nigeria fights financial fraud to a standstill, the nation would crumble.
Kida, also the Chairman, Committee of Provosts, Deans and Directors of the Federal University of Lafia (FULafia), while highlighting the grave impact of financial fraud on Nigeria’s public sector, governance and the country’s economic development, stated that frauds such as procurement scams, payroll manipulations, phishing, identity theft and payment fraud, exposed systemic vulnerabilities of Nigeria and demanded immediate attention.
Kida, a professor of accounting, spoke while delivering his professorial inaugural lecture, the 24th, in FULafia.
Kida’s inaugural lecture, was titled: “Unveiling the Dynamics of Financial Fraud in the Nigerian Public Sector: The Crucial Role of Accountants and Auditors in Perpetuating and Deterring the Menace.”
The event was held at the MIS Multi-purpose Hall permanent Site Campus of the University.
Kida stressed the importance of empowering accountants and auditors, enhancing legal frameworks, leveraging technology, and promoting ethics to combat fraud effectively in Nigeria.
He acknowledged the pivotal role played by accountants and auditors in identifying and preventing fraud, emphasising the importance of upholding ethical standards and professional integrity.
While commending Nigeria’s efforts in establishing legal frameworks to address financial fraud, including the Economic and Financial Fraud Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Kida highlighted the need for improved enforcement of and compliance to the nation’s laws against frauds.
He called for coordinated efforts from all stakeholders to strengthen the country’s financial system and restore public trust.
Earlier, while declaring the occasion open, the Vice-Chancellor of FULafia, Professor Shehu Abdul Rahman, lauded Professor Mohammad Isa Kida for his dedication to solving economic related problems in Nigeria.
Abdul Rahman highlighted Kida’s significant contributions to the field of accountancy, saying that Kida’s lecture was the first from the Department of Accounting and the first from the Faculty of Management Sciences of FULafia.
Professor Jude Sammani Rabo, the Co-Chairman of the event and Vice-Chancellor of Federal University, Wukari, Taraba State, represented by the Deputy Vice-Chancellor, Central Administration, Prof. Gary Garbunga Yebpella, commended Kida’s outstanding contributions to the Department of Accounting, Federal University, Wukari, where he served before transferring his services to FULafia.
He commended Abdul Rahman for leading the FULafia to greatness, saying: “Your University is attaining a prominent position among academic institutions.”
Professor Josephine Odey, the Chairperson of the Inaugural Lecture Committee of FULafia, represented by Professor David Ugal, expressed her gratitude for Kida’s contributions to the field of accounting.
Odey noted the global recognition of Kida’s work in advancing accounting knowledge.
The event was climaxed with the presentation of certificates and plaques to Kida by Abdul Rahman.
The lecture attracted many dignitaries including the Emir of Lafia and Chairman, Nasarawa State Council of Chiefs, Hon. Justice Sidi Bage Muhammad 1, JSC (rtd), other traditional rulers, politicians, well-wishers, family members and friends of the inaugural lecturer.