Abuja – The Federal Government says budgetary allocations to professional bodies and councils in the country will be discontinued as from January, 2024.
The Director – General of the Budget Office of the Federation, Ben Akabueze, stated this in a letter to the affected professional bodies and councils.
Akabueze, in the letter asked the affected professional bodies and council to make adjustments early so they can continue to run their organisations seamlessly after government withdraws its financial support.
The Professional Bodies/Councils affected are institutions established for regulatory purposes.
They decide, maintain and regulate the ethics of practice and conduct of professionals in their profession.
Almost all the professions in Nigeria have regulatory bodies and some have been running on government’s budgetary allocation.
Among the affected professional bodies/councils are the Nigerian Bar Association (NBA),
Institute of Chartered Accountants (ICAN), Chartered Institute of Administration (CIA), Chartered Institute of Bankers of Nigeria (CIBN),
Council of Registered Builders of Nigeria (CORBON) and
Council for the Regulation of Engineering in Nigeria (COREN).
Others are Institute of Chartered Accountants (ICAN), Manufacturers Association of Nigeria (MAN),
Medical and Dental Council of Nigeria (MDCN),
Nigerian Institute of Architects (NIA),
Nigerian Institute of Management (NIM),
Nigerian Institute of Quantity Surveyors (NIQS), National Teacher’s’ Institute (NTI), Nigerian Medical Association (NMA) and
Pharmacists Council of Nigeria (PCN)
Akabueze in the letter explained that the decision to discontinue budgetary allocations to these bodies was taken in line with the recommendation of the Presidential Committee on Salaries (PCS).
The letter reads thus ; ” I wish to inform you that, the Presidential Committee on Salaries (PCS), at its 13th meeting approved the discontinuation of budgetary allocation to Professional Bodies/Councils effective 1st January, 2024.
“The purpose of this letter, therefore, is to inform you that, in compliance with PCSs directive, this Office (Budget Office of the Federation) will no longer make budgetary provisions for your institution, which means that you will be regarded henceforth as a self-funded organization.
“For the avoidance of doubt, you will be required, effective 1st January, 2024, to be fully responsible for your personnel, overhead, and capital expenditures,” Akabueze said.