Fiscal, monetary policy alignment critical to sustainable economy, says ICAN

Institute of Chartered Accountants of Nigeria (ICAN) has expressed that aligning fiscal and monetary policies is critical to achieving sustainable economic growth in Nigeria.

Chairman of the 20th western zonal conference of the ICAN, Kolawole Bisiriyu spoke on Wednesday at a press conference in Lagos.

The news conference was held ahead of the event said to be for ICAN’s Ilupeju-Gbagada and district society IGDS) 2026.

The chairman said the theme for the conference, ‘Revitalising the Nigerian Economy for Sustainable Development: Accelerating New Frontiers’, will address the contemporary complexities of the global finance world.

“We are not gathered merely to learn and network; we are here to influence the national trajectory through strategic decision-making,” he said.

Bisiriyu said ICAN is actively supporting the federal government’s economic reform efforts, particularly in ensuring synergy between fiscal and monetary policies, which he described as the “bane” of the country.

“We had fiscal policy go in one direction while monetary policy moved in another,” the chairman said.

“But this government has made it clear that both must work together to deliver a sustainable economic programme, and ICAN is part of that agenda.”

He said the institute is deeply involved in the ongoing tax reforms, noting that a significant number of ICAN members are driving the process at various levels.

“If you look at the tax reforms, about 80 percent of our members are involved, whether as chairmen of review committees, implementation committee members, or at sub-committee levels,” he said.

“This underscores the importance and relevance of ICAN in the current economic reforms.”