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FIRS Largest Employer of Chartered Accountants

I like to tell you that all your members have always upheld the core values of ICAN. They have set standards others are working to catch up with. 

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▪︎FIRS chairman, Zacch Adedeji

The Chartered Accountants of Nigeria (ICAN) has commended the Federal Inland Revenue Service (FIRS) for being the largest employer of chartered accountants in the country.

“Out of the 66,000 chartered accountants in the country today, more than 2,800 are in FIRS, the largest by any government agency,” said Davidson Alaribe, the President of ICAN.

Alaribe made the disclosure during the inauguration ceremony of the ICAN chapter in the FIRS Office in Abuja.

Alaribe commended the FIRS chairman, Zacch Adedeji, for leading the transformation of the agency that is now vital to the country’s economic development by making revenue available to the three tiers of government to finance major projects. A

ssuring the FIRS chapter of constant support, he tasked the pioneer officers to actively engage members to establish a strong foundation for the chapter and also ensure the elevation of its profile. 

The FIRS chairman, who was represented at the event by the Coordinating Director of Medium Taxpayers Group, Dr Dick Irri, charged the leaders of the ICAN chapter to continue to display high ethical standards in the discharge of their duties. 

Adedeji, who is a Fellow of ICAN himself, said he gave the approval for the establishment of the unit as a result of the critical roles chartered accountants play for Nigeria, particularly at FIRS.

 “ICAN is dear to me in many ways. Apart from being a fellow of ICAN, we have close to 3,000 ICAN members working in FIRS. 

” I like to tell you that all your members have always upheld the core values of ICAN. They have set standards others are working to catch up with. 

“This event is a great avenue to advocate the cause of accounting at FIRS.

The quality of the people in the executives says it all. There is no denying the fact that ICAN members in FIRS are blazing the trail as we have the highest number of chartered accountants in Nigeria,” he said. 

In her acceptance speech, the pioneer chairperson of the FIRS branch, Dr Josephine Onyia, thanked Adedeji and the management of FIRS for the support and endorsement of the new leaders. 

“As members of a noble profession like ours, we are crucial in upholding financial integrity, fostering economic advancement, and promoting trust within the business community. 

“I am honoured to be the pioneer chairman of the ICAN-FIRS chapter which comprises many chartered accountants, who stand for these core values and contribute actively to the advancement of the accounting profession and revenue collection for national development,” she said. 

Other officers of the unit include Mrs. Adenike Adegoke, who is the Vice-Chairperson; Abdurauf Aderemi, General Secretary; Mrs. Patricia Ofili, Treasurer; and Mr. Aduka Borr, Publicity Secretary.

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Business

Naira Exchange Rates Thursday, 5 Nov 2026

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BLACK/ PARALLEL MARKET RATES

₦1400DOLLAR (USD)

₦1830POUND (GBP)

₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

₦70 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED

₦190 Chinese YUAN (CNY)

₦100 Ghanaian CEDI (GHS)

West African CFA ₦2240 (XOF)

Central African CFA ₦2180 (XAF)

₦820 Australian Dollar AUSSIE (AUD)

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NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.

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Business

Naira Exchange Rates Wednesday, 4 Nov 2026

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BLACK/PARALLEL MARKET RATES

1390DOLLAR (US

₦1835POUND (GBP)

₦1510EURO (EUR

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

₦2300 West African CFA F.(XOF)

₦2200 Central African CFA F.(XAF)

₦850 Australian Dollar AUSSIE (AUD)

OFFICIAL CBN EXCHANGE RATES

DOLLAR (USD)₦1346.93

POUND (GBP)₦1807.72

EURO (EUR)₦1512.26

SWISS FRANC (CHF)₦1644.21

JAPANESE YEN (JPN)₦8.52

West African CFA FRANC (XOF)₦2.30

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1825.03

CHINESE YUAN (CNY)₦201.92

SAUDI RIYAL (SAR)₦359.15

SOUTH AFRICAN RAND (ZAR)₦81.37

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