Abuja — The Bureau of Public Procurement (BPP) and the Institute of Chartered Accountants of Nigeria (ICAN) have signed a Memorandum of Understanding (MoU) aimed at strengthening transparency, accountability and ethical standards in Nigeria’s public procurement system.
The agreement is intended to improve public financial management and promote value for money in government spending through closer collaboration between the procurement regulator and the nation’s accounting professional body.
Speaking at the signing ceremony, the Director-General of BPP, Adebowale A. Adedokun, said public procurement plays a central role in national development and requires strong professional oversight to function effectively.
According to him, public procurement brings together various professional bodies into an ecosystem that supports accountability and national development.
Under the terms of the MoU, BPP will be empowered to report accountants found to have engaged in unethical or corrupt practices during procurement processes to ICAN for investigation and possible disciplinary action.
The move is expected to strengthen enforcement and professional accountability in the public sector.
In his remarks, ICAN President, Haruna Nma Yahaya, reaffirmed the institute’s commitment to supporting the partnership, identifying value for money, strict discipline, national savings and capacity development as key areas of focus.
He expressed confidence that the collaboration would contribute to improved governance outcomes and help curb financial leakages in public procurement.
The MoU signing ceremony was attended by senior officials and representatives of both organisations.
