ICAN cautions FG on adoption of foreign policies

The National President of Institute of Chartered Accountants of Nigeria (ICAN), Mrs Comfort Eyitayo, has cautioned the Federal Government against adopting foreign policies and programmes, “hook line and sinker.” Eyitayo warned that domestication of foreign policies without a critical review to solve Nigeria’s challenges may further compound the economic woes of the country. The ICAN President stated this when she and other members of the institute were hosted to a royal reception by the Akarigbo and Paramount ruler of Remoland, Oba Babatunde Adewale Ajayi, who is also an ICAN member, at his palace in Sagamu, Ogun state.

The reception was organised by the Remo Growth and Development Foundation (Remo GDF). Eyitayo insisted that the adoption of foreign policies and programmes by the Federal Government had not yielded the much expected positive result. The ICAN President said the Federal Government must review foreign policies and programmes to meet the peculiarities of Nigeria’s socio-political and economic dispositions, before adopting them. She, therefore, advised the government to adopt a bottomup approach to development of policies. The ICAN President lamented that Nigeria was struggling under the weight of intractable corruption, frequent and wanton destruction of lives and properties, poor socio-economic indices and weak institutions.

Her words: “The current approach of adopting foreign policies and programmes, hook line and sinker, to address local challenges may lead the country to perpetually grope in the dark of underdevelopment. “Evidence has shown that, over the years, national priorities are not adequately reflected in most of these global policies and programmes. “When it becomes necessary to import foreign policies, then the managers of the country should do a smart adaptation of such policies to meet the peculiarities of our socio-political and economic dispositions.” She urged the government to assign constitutional roles to traditional rulers, saying “the traditional institution should fully involved in any policy intervention to address the increasing and discouraging negative trends in the country.

“We are of the opinion that the rich and invaluable knowledge of traditional rulers should be leveraged in building a nation we would all be proud of.” In his remarks, Oba Ajayi advocated for building of strong institutions to curb the excesses of leaders, saying “we just hope that Nigeria will continue to build strong institutions to check the excesses of our political leaders.” He urged members of the institute to come up with suggestions and solutions to some of the problems confronting the country. The monarch also called on the government to give constitutional roles for traditional rulers, saying monarchs should be carried along in the formulation of policies that would affect the people at the grassroots level.




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