01/11/2018
CRYPTO CURRENCY & ACCOUNTABILITY TRENDS; AUN HOSTS FINANCE SEMINAR.
AUNThisWEEK
23 October 2018
Crypto Currency & Accountability Trends; AUN Hosts Finance Seminar.
The Yola District Society of the Institute of Chartered Accountants of Nigeria (ICAN) has organized a seminar for directors and senior staff members in public and private sectors on modern finance practices.
The two-day seminar, with the theme "Capacity Building in the Public Sectors", was held at AUN to update senior staff of the Accountant-General's office in Adamawa.
Chairman of the District, Seubittere Agabus Yakubu, who talked about trends in Cryptocurrency, said governments are reluctant to embrace cryptocurrency because taxes accruing from it are difficult to evaluate and deduct.
Mr. Yakubu explained that one of the advantages of digital currency is its capacity to develop an economy faster by shortening transaction time, however, noted that it could facilitate money laundering because it lacks third-party control by institutions such as the central bank.
More than 40 attendees received new insight into the topic, as many had yet to hear of digital currency. Director, Treasury of the Office of the Accountant General, Adamawa State, Mr. Titus Solomon, confessed he gained a lot from the presentations, especially that of cryptocurrency, as it was entirely new to him.
AUN’s Vice President of Finance & Administration, Mr. Olanipekun Olanrewaju, who formally opened the seminar, said it is aimed at enriching the knowledge of civil servants. He added, "The world is changing, and for us to live up to expectation, we should continually train the workforce.”
Other presentations included “Modern Audit in the Public Sector” by AUN Senior Internal Auditor, Mr. Okeoghene Ighorhiohwu, and “Budget Process & Budgeting Control: Public Sector Perspective”’ by the Technical Secretary for the ICAN, Obatunde Shoberu.
AUN organized the finance seminar in partnership with ICAN to help improve public sector accountability and aptitude as part of the university’s social responsibility to its host community.
Reported by Omorogbe Omorogiuwa
