The Chartered Institute of Treasury Management (CITM) has cautioned against divisive rhetoric following recent comments by the President of the Institute of Chartered Accountants of Nigeria (ICAN), Mallam Haruna Nma Yahaya, on the alleged proliferation of professional bodies in the country.
In a statement signed by its Registrar/Chief Executive, Adedoyin Olumide, CITM described the remarks as undermining the authority of the National Assembly, stressing that the institute was legally established through the CITM Act of 2021 to strengthen Nigeria’s financial architecture.
Olumide, while acknowledging ICAN’s 60th anniversary and its contributions to the accounting profession, rejected any narrative suggesting that other professional organizations are inferior. He explained that CITM’s mandate covers specialized areas such as liquidity management, financial risk management, and corporate finance, which complement rather than duplicate ICAN’s scope.
“The issue of ‘proliferation’ undermines the sovereignty of the law. Our specialization enhances expertise and drives economic efficiency, aligning with global best practices,” the statement read.
The CITM boss maintained that developed economies thrive on synergy among professional bodies, and Nigeria must emulate this model. He therefore urged ICAN’s leadership to embrace inclusivity and collaboration, rather than divisive positions.
“Instead of rhetoric that creates division, we should focus on partnership. CITM remains open to strategic collaboration that will uplift treasury management standards and drive national growth,” Olumide added.
