The Association of National Accountants of Nigeria (ANAN) conferred its Fellowship on Shehu Osidi, the Managing Director and CEO of the Federal Mortgage Bank of Nigeria (FMBN), on Friday. The event took place in Abuja, with Dr. James Neminebor, ANAN’s President and Chairman of Council, highlighting Osidi’s significant contributions to the nation’s economy as the reason for this honor.
Dr. Neminebor emphasized that the conferment aligns with ANAN’s tradition of awarding fellowships to deserving members during its annual national conference. He encouraged Osidi to represent ANAN with pride, noting the association’s establishment in 1979 as the second professional accounting body in Nigeria.
While praising ANAN’s role in bolstering Nigeria’s economy by strengthening the accounting profession, Dr. Neminebor lamented the nonpayment of membership subscription fees, which amounts to over N10 billion. This financial challenge is significant as ANAN relies on membership subscriptions for survival, receiving no government subvention.
“When I visited the accounts department, I saw indebtedness of subscription amounting to over N10 billion, meaning members have not been paying their subscription fees. How will ANAN survive? We have no subvention from governments. It is from subscriptions of members that we strive,” he stated.
He also pointed out that ANAN is a member of both regional and international accountancy bodies, paying its dues in dollars. Dr. Neminebor urged all members and affiliated organizations to fulfill their financial obligations to support the association.
“We pay our membership subscription in dollars to regional and international accountancy associations, but members owe over N10 billion debts. This is a serious challenge,” Neminebor added, calling on members to pay their dues promptly.
