The Chartered Institute of Treasury Management has called for collaboration among professional bodies to drive the Nigerian economy, rather than divisive comments that undermine others.

The CITM registrar and chief executive, Adedoyin Olumide, made the call in a statement on Tuesday in Abuja.

This was in response to recent comments attributed to the President of the Institute of Chartered Accountants of Nigeria regarding the proliferation of professional bodies. He described the remarks as divisive and undermining the authority of the Nigerian Parliament.

Mr Olumide, while acknowledging ICAN’s 60th anniversary and its contributions to the accounting profession, rejected any narrative that portrays other professional bodies as inferior. He noted that the CITM was established by the Chartered Institute of Treasury Management Act, 2021.

This, according to him, is to strengthen Nigeria’s financial architecture through specialised focus on treasury management, including liquidity management, financial risk management, and corporate finance.

“The issue of ‘proliferation’ undermines the sovereignty of the law. Our specialisation enhances expertise and drives economic efficiency, aligning with global trends,” Mr Olumide said.

He stressed that the mandates of ICAN and CITM were distinct but complementary, noting that developed economies thrive on collaboration between professional bodies, which Nigeria must emulate.

He urged ICAN’s leadership to adopt a spirit of inclusivity, recognising the value of all professional organisations in improving Nigeria’s financial sector.

“Instead of divisive rhetoric, we should explore partnership avenues. CITM remains open to synergistic relationships that serve Nigeria’s greater good,” Mr Olumide said.

He reaffirmed the institute’s commitment to raising treasury management standards and supporting economic growth.