By Our Reporter
The Federal Government has stopped funding professional bodies.
Director General of the Budget Office of Federation (BoF) Ben Akabueze, said they will no longer be captured in national budgets.
He stated this in a June 26 circular to the heads of all professional bodies.
The decision was taken at the 13th Presidential Committee on Salaries (PCS) meeting.
Akabueze said the PCS “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 PCs’s directive, this Office will no longer make budgetary provisions to your institution, which means that you will be regarded henceforth as a self-funded organisation,” Akabueze wrote.
He added that from January 1, all affected professional bodies will be “fully responsible for your personnel, overhead and capital expenditures”.
The Auditor General Office proposed to spend N1,840,612 on professional bodies as a “subscription” in the 2023 budget.
Ministry of Communication Technology and Digital Economy proposed N268,979; the Ministry of Petroleum, N2,376,747; the Ministry of Justice, N1,500,000 and the Ministry of Information and Culture, N3,707,633.
For instance, the Institute of Chartered Accountants of Nigeria (ICAN) sells its registration PIN, charges an exemption fee for those who want to skip certain examinations, and sells study packs.
It also charges for examinations with separate fees required for each diet for both skills and professional examinations.
ICAN members also pay substantial yearly subscription fees and membership dues.