Nigeria can’t afford to miss out of fourth industrial revolution ― Ahmed Nigeria can’t afford to miss out of fourth industrial revolution ― Ahmed
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Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has told members of the Institute of Chartered Accountants of Nigeria (ICAN) that Nigeria cannot afford to miss out on the opportunities provided by the fourth industrial revolution across industries.
In an address to the 50th annual accountants’ conference in Abuja, on Tuesday, Ahmed said the fourth industrial revolution was marked by emerging technology breakthroughs in a number of fields, including robotics, AI, quantum computing, 3D printing, biotechnology & the internet of things.
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As a Nigerian interested in investing or making money, names like Aliko Dangote, Femi Otedola, Mike Adenuga, Tony Elumelu, Jim Ovia, Rabiu Abdulsalam etc., come to mind as aspirational role models. These men have all made billions of naira investing in companies listed on the Nigerian Stock Exchange either as founders or strategic investors.
However, there are many other lesser-known investors in companies listed on the Nigerian Stock Exchange who are worth billions (in naira). These investors are seasoned and while they may not always be the founders of the companies they are invested in; they own a significant chunk of the business through strategic investment stakes that earn them billions annually in capital appreciation and dividends.
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Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has charged professional auditors who are members of the Institute of Chartered Accountants of Nigeria (ICAN) to uphold the core values of accuracy and integrity in order to earn public confidence and respect within the financial services industry.
Hassan said this during a courtesy visit by the ICAN National President who was represented by one of the Council Members, Mrs Sofura Seghosime and Chairman of Abuja District, Mrs Bosede Ikhanoba and other ICAN Executive Members to the NDIC head office in Abuja.
He explained that both the NDIC and Central Bank of Nigeria (CBN) relied on the works of third parties which include external auditors and reporting accountants in the Risk-Based Supervision (RBS) of deposit-taking institutions.