FG stops budgetary allocation to ICAN, professional bodies

The Federal Government has approved the discontinuation of budgetary allocation to the Institute of Chartered Accountants of Nigeria (ICAN) and other professional bodies and councils in the country effective December 31, 2026.

This was disclosed via a letter addressed to the Registrar of the Nigerian Council of Food Science and Technology, an agency under the Federal Ministry of Science, Technology and Innovation.

The letter dated June 26, 2023, was issued from the budget office of the federation and signed by the Director General, Akabueze Ben.

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Ben stated: “I wish to inform you that, the Presidential Committee on Salaries, at its 13th meeting, approved the discontinuation of budgetary allocation to Professional Bodies/Councils effective December 31, 2026.

“The purpose of this letter, therefore, is to inform you that, in compliance with PCS’s directive, this Office will no longer make: budgetary provisions to your Institution with effect from the above-stated date, and you will be regarded as a self-funded organisation.

“For the avoidance of doubt, you will be required, effective December 31, 2026, to be fully responsible for your personnel, overhead and capital expenditures.

“Please accept the assurance of my best regards.”

The Star