Institute of Chartered Accountants of Nigeria, ICAN, has urged government, public institutions and citizens to embrace accountability, describing it as the foundation for sustainable national development.

The institute warned that Nigeria’s recent economic gains could be easily reversed without transparency, fiscal discipline and strong governance frameworks.

The President and Chairman of the ICAN Council, Haruna Yahaya, made the call on Wednesday at the Institute’s 2026 Economic Outlook, organised as part of activities marking ICAN’s 60th anniversary.

Speaking at the forum themed “ICAN@60: Accountability as the Bedrock of National Development,” Mr Yahaya said the milestone should inspire renewed leadership and responsibility rather than nostalgia.

He noted that Nigeria’s economy showed signs of stabilisation in 2025, with real GDP growth rising above four per cent in the second quarter, driven by improvements in manufacturing, trade and services.

According to him, inflation moderated towards the mid-14 per cent range by the end of the year, while foreign exchange reserves strengthened on the back of improved export performance and reforms in the foreign exchange market.

Mr Yahaya also cited rising business confidence, with the Purchasing Managers’ Index climbing to 57.6 points, signalling an expansion in economic activity.

However, he cautioned that the gains remain fragile and must be safeguarded through accountability and credible institutions.

“Accountability is not just a governance ideal; it is an economic imperative,” he said, warning that weak enforcement of laws, corruption and poor financial transparency continue to erode public trust and slow national development.

He highlighted ICAN’s Accountability Index, introduced in 2017, as a practical tool for measuring fiscal transparency and public-sector performance, stressing that accountability must be measurable and enforceable to deliver tangible results.

Delivering the keynote address, Prof. Taiwo Oyedele, FCA, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, described accountability as the critical link between reform and results.

He explained that national development goes beyond GDP growth and must translate into improved citizens’ well-being, including better education, healthcare, infrastructure, governance and social protection.

Mr Oyedele identified accountability as encompassing transparent reporting, answerability to citizens and responsibility for outcomes, noting that countries with strong institutions, public trust and ethical systems tend to achieve better economic and social outcomes.

He warned that misinformation and poor understanding of reforms could undermine economic progress, citing the adverse market reaction of November 2025 as an example of the real cost of unfounded claim

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