FCSC Chairman Urges Accountants to Drive Economic Development, Strengthen Governance

The Chairman of the Federal Civil Service Commission (FCSC), Prof. Tunji Olaopa, has called on accountants to play a more pivotal role in Nigeria’s economic development and governance.

Olaopa, a professor of public administration, made the appeal on Tuesday while addressing participants at the 2025 National Conference of the Association of National Accountants of Nigeria (ANAN) in Abuja.

Highlighting the central role of accounting in national development, he urged professionals to “think outside the box” and boldly explore new frontiers to strengthen public sector financial management systems.

According to him, national accounting provides vital data for tracking economic health, enabling informed policymaking and resource allocation. “Accounting serves as a framework for understanding a nation’s economic structure, measuring activity, and identifying areas for improvement. This information supports decisions on taxation, interest rates, and infrastructure spending while fostering transparency, accountability, and investment confidence,” he said.

Olaopa described the gathering of accountants to reflect on the gatekeeping responsibilities of one of Nigeria’s top regulatory bodies as “especially significant” at a time the country is benefitting from President Bola Tinubu’s “accounting wizardry.”

He specifically commended the expertise that went into producing the Tax Reform Act, noting its potential to stimulate growth in priority sectors, ease the cost of doing business, and improve Nigeria’s investment climate. He attributed this achievement to the professionalism of accountants, including ANAN fellows serving in President Tinubu’s cabinet.

However, he expressed concern that, while public sector accounting reforms have recorded some impact, the system remains the “weakest link” in Nigeria’s overall governance performance index.

“This should be of concern to ANAN and other professional gatekeeping bodies. The capacity to identify and manage gaps in financial management controls — particularly in strengthening audit functions and legislative oversight — remains a challenge that should test the professionalism of accountants,” he stressed.

Olaopa also underscored the need for innovation and capacity development among public sector accountants to keep pace with emerging technologies. He said proficiency in trend analysis, artificial intelligence, and automation tools has become essential for streamlining financial processes and improving efficiency in government accounting.