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October 1, 2023
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NBTI trains staff on application of IPSAS, inventory system

download 2023 03 31T023153.989

The National Board for Technology Incubation in collaboration with DAL-HAT COST Engineering Nig. Ltd, trained 70 persons on the development of accounts and audits in 36 Technology Incubation Centre (TIC) on application of IPSAS accounting and inventory system in Abuja.

While delivering his keynote speech, the overseeing Director-General of the National Board for Technology Incubation (NBTI) Akinwumi Taiwo Somefun said, the training is aimed at exposing participants to the currents application of IPSAS accrual accounting in line with the federal government directive and standard practice.

The training he said, will facilitate migration to IPSAS accrual accounting for uniformity in reporting and full compliance with universally acceptable standards.

“Human capacity building is key to the growth and survival of any given organisation. It is therefore one of the top priorities of NBTI, thus we shall continue to invest in building the capacity of our staff at all times and at all levels. It is only when we remain consistent in this drive that we can build a formidable organisation and contribute to meaningful development of the country at large.

According to Somefun, that participants should note that the National Board for Technology incubation was established in 2005 as an agency charged with the mandate of commercialising and development finding, upgrading indigenous technologies and talents. Adding that the Board is currently having offices in all the six Geo- political zones, “thirty-six Centres across the country and eleven extensions Centres. All the zones and Centres are doing credibly well at their respective levels. The contribution to the economy economic well – being of the zones and the Centres to their host communities are commensurable.”

Earlier, the Director Internal Audit NBTI Mohammed Adnan Ladan said that, only 10% of the MDAS, has complied with the directive of the federal government of Nigeria to migrate to IPSAS accrual bases accounting from cash bases accounting by the 1st of January 2016.

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