UBA, ICAN Partner to Drive Excellence in Accounting

The United Bank for Africa (UBA) and the Institute of Chartered Accountants of Nigeria (ICAN) have entered into a strategic partnership aimed at enhancing excellence, professionalism, and innovation in the field of accounting and financial services in Nigeria and across the African continent. This alliance, formalized through a high-level engagement between the leadership of both institutions, is poised to shape the future of financial reporting, ethics, and capacity building within the region.

At the heart of this collaboration is a shared commitment to strengthen the accounting profession through targeted development programs, ethical standards, and skill enhancement initiatives. The UBA-ICAN partnership is not just a symbolic alliance; it is structured to deliver measurable impact in key areas such as professional training, graduate development, and organizational excellence.

The meeting that cemented this collaboration brought together UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, and ICAN’s 60th President, Chief Davidson C. S. Alaribe. Both leaders emphasized the importance of sustainable partnerships in enhancing institutional goals, noting that their organizations play pivotal roles in shaping Nigeria’s economic landscape.

One of the key outcomes of the meeting was the discussion of the Graduate Management Accelerated Programme (GMAP), a UBA initiative designed to recruit and groom young professionals through rigorous, hands-on training. ICAN has expressed interest in integrating this program with its own standards of professional development, ensuring that accounting graduates entering the workforce are not only technically proficient but also grounded in the ethics and principles of good governance.

UBA also expressed willingness to support the establishment of an ICAN office or branch within the UBA House to promote easy access to ICAN’s resources for UBA staff and other professionals. This move would provide a direct interface between ICAN and the bank’s large network of employees, many of whom are either members or aspiring members of the accounting body.

Oliver Alawuba praised the partnership as a timely step toward raising the bar of financial services in Nigeria. According to him, “Our collaboration with ICAN goes beyond branding. It is a mission to embed professionalism, promote ethical conduct, and ensure that our people are not just trained but inspired to maintain the highest standards.” He added that UBA, with operations in 20 African countries and active presence in global financial hubs such as London, New York, and Paris, has both the scale and the platform to effect systemic change through this alliance.

ICAN President, Chief Alaribe, on his part, highlighted the transformative potential of the partnership. He said that UBA’s stature as a Pan-African institution makes it an ideal ally in the mission to deepen the quality of accounting and financial management practices across the continent. He noted, “This partnership will benefit our members and the broader financial services ecosystem. It is a step in the right direction for our nation’s economic development.”

In addition to GMAP, other areas of collaboration discussed include structured mentorship programs, support for ICAN conferences and research initiatives, and opportunities for UBA employees to earn ICAN certification through streamlined pathways. These programs are expected to drive innovation in financial reporting and improve transparency and accountability in both public and private sectors.

The initiative also comes at a time when ICAN has been actively pushing for higher standards in the profession. In April 2025, the Institute conferred fellowship status on 911 of its members, recognizing their long-standing contribution to the field. During the fellowship ceremony, Chief Alaribe urged the new fellows to serve as role models for younger accountants and to uphold the highest levels of integrity and service. He called on them to support national development by leveraging their expertise in policy-making, financial management, and corporate governance.

Analysts see the UBA-ICAN partnership as a much-needed collaboration that could redefine the accounting profession in Africa. It brings together two well-established institutions with complementary strengths—UBA’s extensive reach and financial clout, and ICAN’s institutional integrity and training rigor. Together, they can foster a new generation of finance professionals who are both competent and principled.

This partnership also reflects broader trends in corporate Nigeria, where private sector institutions are increasingly investing in human capital as a competitive advantage. In a globalized economy marked by technological disruption and regulatory shifts, continuous professional development is no longer optional—it is essential. Through strategic alliances like this, organizations are adapting to new demands while reinforcing the foundational pillars of trust and accountability.

In conclusion, the partnership between UBA and ICAN is more than a professional arrangement—it is a blueprint for sustainable progress in Nigeria’s financial services sector. By combining their resources, networks, and vision, these institutions are creating pathways for young professionals, strengthening ethical frameworks, and building the capacity needed to support Nigeria’s economic growth. As the collaboration unfolds, it will likely serve as a model for similar alliances across Africa’s financial ecosystem.