Chairman of Council of the Society for Forensic Accounting and Fraud Prevention (SFAFP) Iliyasu Gashinbaki has said that huge gains will accrue to Nigeria when the Bill for the establishment of the Chartered Institute of Forensics and Certified Fraud Examiners is passed into law.
In his words, the immediate results will be drastic reduction of fraud, embezzlement, economic crimes, financial crimes and corruption in both public and private sectors of the economy.
Speaking at ANAN House, Abuja against the background of the First Reading of the Bill at the House of Representatives, Gashinbaki said it would create jobs in the 774 local governments, help Nigeria fight corruption; trace-track-recover lost funds/assets/resources; build capacity; attract foreign investments and restore the confidence of investors in the Nigeria economy.
Other benefits of having the chartered Institute, he noted, providing technical assistance and capacity building on anti-corruption through continuous skills development for professional practitioners, law enforcement agencies, public and private enterprises in Nigeria and beyond; fostering international cooperation and enhancement of foreign direct investment into the country by creating safe and investment friendly environment for investors and promotion of transparency and accountability in dealing with public and private sector operations in the economy among others.
The Society for Forensic Accounting and Fraud Prevention (SFAFP) is a Professional Association registered with the Corporate Affairs Commission (CAC). The Society, a brainchild of the Association of National Accountants of Nigeria (ANAN), was established to provide machinery for training, supervision and regulation of the practice of Forensics, Fraud Examination and Fraud Prevention in Nigeria.
The bill to establish the Chartered Institute of Forensics and Certified Fraud Examiners of Nigeria (Establishment) Bill 2021 passed its first reading in the House Representatives.
The bill is sponsored by Yusuf Buba Yakub, Chairman, House Committee on Foreign Affairs.