The Institute of Chartered Accountants of Nigeria has urged the Federal Government to invest more in the agricultural sector to enhance the economy.

The association made the call on Saturday, at the Investiture of the 4th chairman of Gwagwalada and District Society of ICAN and inauguration of the Executive Committee in Gwagwalada, Abuja.

While making the call, the new Chairman, Sosanwo Akinwunmi, Fellow of Chartered Accountants, said there was a need for improvement in the economy through gainful initiatives and investment in the areas of agriculture and Small and Medium Enterprises, inclusive. 

He advised the President Bola Tinubu to empower the agricultural sector, reach out to them directly and create wallets through the Ministry of Agriculture.

According to him, financial aid should be given directly to the people; provide farmers with fertilisers and other materials needed for SMEs.

In his words: “Educate them on how to run their businesses effectively and monitor the businesses properly. I think with that, we’ll be 

able to improve our domestic productions. 

“A lot of things have happened, which include the multiple borrowings by the government, and not getting the right information about the developmental projects done with the money. 

“Even telling the CBN to print money is an act of borrowing and it also has an impact on the economy. So, these are some of the things preventing the various economic policies put in place by the government to have a significant indelible value,” he said.

Mr Akinwunmi pledged that under his leadership the district would impact on the communities within its operation. 

On his part, Technical Director, Godwin Eje, said that the leadership team would focus more on the capacity building of chartered accountants.

While congratulating the new executives, the 60th President, ICAN, Davidson Alaribe, represented by the 1st Deputy Vice President and District Coordinator, ICAN, Hajia Queensley Seghosime, said that the country was going through various socioeconomic challenges, therefore urged the new leadership to maximise the opportunity to showcase its problem-solving capability and in turn produce quality results.