The Department of Accounting, Federal University Dutsin- Ma (FUDMA) has held an International Conference tagged ‘From Reform to Transformation: The Role of Accounting and Finance in Nigeria’s Tax, Exchange Rate and Public Finance Reforms’.
The Conference which is the second since the establishment of the department drew accountants and financial managers from within and outside the University.
Speaking at the occasion, the Head, Department of Accounting, Dr. Isma’il Yusuf said the conference was to provide a platform for academics and accounting professionals to rub minds, challenge assumptions, build collaborative-networks, offer practical policy-relevant solutions that can guide policy-makers, business leaders and regulatory bodies.
He added that the conference was intended to build collaboration on actionable research, and institutional synergies across academia, industries and public policy makers.
Dr Yusuf said, “Nigeria is navigating profound structural shifts across public finance management, monetary policy realignments, tax administration overhauls and foreign exchange regime reforms. While reforms are essentials triggers, true economic transformation requires robust financial governance, transparent accounting systems, data-driven fiscal policies and rigorous academic inquiry.”
“This Conference will examine these critical dynamics through diverse research papers, empirical studies and interactive panel sessions covering Fiscal Sustainability, Tax Compliance and Revenue Administration; Foreign Exchange Market Volatility, Monetary Policy and Corporate Performance; Public Sector Accounting, Governance, Accountability and Digital Transformation, and Sustainable Reporting, Corporate Finance and Emerging Financial Technologies.”
Dr Yusuf acknowledged the tremendous supports of the University Management under the leadership of Prof. Mohammed Khalid Othman, in organising the conference.
In a keynote address, Dr. Zaid Abubakar, the former Executive Chairman of Kano and Kaduna States Internal Revenue Services, said Nigeria’s reforms are necessary, but not sufficient.
“Reforms since May 2023 were necessary and produced real fiscal gains, but they are not yet transformational.
“Reform changes rules; transformation changes outcomes that citizens can see. A reform that raises revenue without improving services or trust, changes the fiscal accounts without transforming the economy” he said.
According to him, reforms only produce real fiscal gains, but not transformation, audited statements and attestation determine public revenue, visible public value decides durability, while interest and opacity weakens it.
“Fiscal aggregates have improved sharply since 2023, but households have not yet felt the gains,” he said.
Dr. Abubakar outlined the five accounting and finance functions that convert reform inputs into transformation outcomes. These, he said, include Financial Reporting, Tax Compliance and Administration; Public Financial Management; Audit and Assurance and Research and Education.
“Citizens will sustain reform only if they can see what their adjustment bought by reporting faithfully, attesting responsibly and account publicly for the reform dividend. Converting reform into transformation is, to a significant degree, an accounting and finance task”, he asserted.
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