Nigeria’s public finance oversight architecture received a significant boost on Monday as the Bureau of Public Procurement (BPP) formalised a strategic collaboration with the Institute of Chartered Accountants of Nigeria (ICAN), signing a Memorandum of Understanding (MoU) designed to strengthen accountability mechanisms in government contracting and procurement systems.
The agreement, executed in Abuja, signals a coordinated institutional effort to reinforce ethical standards, improve compliance enforcement, and promote fiscal discipline within Nigeria’s public procurement ecosystem.
According to an official statement issued by the BPP’s Head of Press and Public Relations, Zira Nagga, the partnership framework is structured to enhance transparency in public expenditure, reinforce professional conduct standards, and safeguard value-for-money principles across Ministries, Departments and Agencies (MDAs).
Procurement Reform and Professional Oversight
Speaking at the signing ceremony, Director-General of the Bureau of Public Procurement, Dr. Adebowale Adedokun, described the MoU as a critical milestone in Nigeria’s ongoing procurement reform agenda.
He emphasised that public procurement sits at the intersection of multiple professions and serves as a central mechanism through which technical expertise is deployed in national development.
“Public procurement functions as the operational hub of professional services in governance. It integrates expertise from various disciplines into a structured system that ultimately advances Nigeria’s development objectives,” Adedokun stated.
Under the terms of the agreement, the BPP is empowered to escalate cases involving professional misconduct by accountants operating within public procurement frameworks to ICAN for disciplinary review. The move is expected to close regulatory gaps and establish clearer accountability channels for certified professionals found in breach of procurement or financial regulations.
This enforcement synergy is aimed at deterring unethical practices, strengthening internal controls, and reinforcing compliance culture within government contracting processes.
ICAN Commits to Fiscal Discipline and Capacity Development
In his remarks, ICAN President Haruna Yahaya affirmed the institute’s readiness to support the bureau’s statutory mandate. He outlined four strategic pillars underpinning the partnership: ensuring value for money in public contracts, enforcing strict professional discipline, promoting national savings through prudent spending, and strengthening capacity development across procurement stakeholders.
Yahaya stressed that accountability within the accounting profession must align with national fiscal sustainability goals.
He expressed confidence that the collaboration would translate into measurable improvements in Nigeria’s public financial management system, particularly at a time when the country continues to pursue efficiency-driven reforms in budget implementation and expenditure control.
Institutional Synergy for Public Financial Management
The MoU ceremony was attended by senior representatives of both institutions, reinforcing the high-level commitment behind the partnership.
Industry analysts view the development as part of a broader structural effort to institutionalise accountability within Nigeria’s public finance management architecture. By formally linking procurement oversight with professional disciplinary structures, the agreement establishes a dual-layer compliance model that strengthens both preventive and corrective oversight mechanisms.
With public procurement accounting for a significant share of government expenditure annually, stakeholders say the partnership could have far-reaching implications for governance credibility, investor confidence, and public trust in fiscal management systems.
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