The Institute of Chartered Accountants of Nigeria (ICAN), has fully accredited the Bachelor of Science Accounting degree programme being run in the College of Management Sciences (COLMAS) of the University. The position of ICAN was recently conveyed in a letter addressed to the Vice-Chancellor, Professor Olusola Oyewole and signed by the Institute’s Deputy Director, Students’ Affairs, Mrs. Folake Olawuyi.
The letter reads as follows: “We are pleased to inform you that the Council of the Institute has approved full accreditation of the B.Sc Accounting programme of your University. The accreditation is for the duration of four academic sessions with effect from 2014/2015 academic session to 2017/2018 academic session. Please, note that only students that graduated within these academic sessions will enjoy the benefits of exemption as specified in the Institute’s syllabus. The next visitation to your institution would be due in (the) 2018/2019 academic session. To give effect to the decision of Council, the presentation of Accreditation Certificate would be held in April 2017”, ICAN had stated.
Sequel to the communication of the full accreditation status to the University, a meeting had been held between University Management and ICAN officials, led by its Team Leader, Professor Ishola Akintoye. Speaking at the event, Professor Akintoye expressed his appreciation to FUNAAB for the support accorded members of the accreditation teams to the University. He enumerated the benefits that would come the way of the University from the existing partnership to include granting of exemption to Accounting students in the ICAN examination and sponsorship of four PhD students from accredited institutions to further their studies.
Professor Akintoye, a Fellow of ICAN, added that First Class students in all fields of studies in the University would be sponsored by ICAN to the tune of N150,000 each, provided FUNAAB introduced such eligible students to the Institute, while the Department of Accounting in the University would be qualified to benefit from ICAN funds allocated for seminars and the hosting of Accounting Week, among others. The Vice-Chancellor was represented at the parley by the Deputy Vice-Chancellor (Development), Professor Ololade Enikuomehin, who appreciated members of the accreditation team for the visit and gave an assurance that the University would always offer the required support and be open for collaboration with the Institute, as the ICAN Team Leader presented copies of the Accounting Syllabus to the University at the occasion.
Meanwhile, the Vice-Chancellor, Professor Oyewole, has justified the establishment of the University’s College of Management Sciences, which was done about five years ago. The Vice-Chancellor stated this during the commissioning ceremony of a security desk and chairs donated by the College of Management Students’ Association (COLMASSA), to COLMAS in the University. The Vice-Chancellor, who was represented at the occasion by the Deputy Vice-Chancellor (Academic), Professor Oluyemisi Eromosele, called for patience on the part of stakeholders, as the University was yet to receive any official directive from the government that the courses being offered by COLMAS should be suspended. The Vice-Chancellor assured members of staff of the College that the present crop of students in the College, as well as the newly-admitted ones in the 2016/2017 Academic Session were meant to run their courses till 2022.
Professor Oyewole lauded the efforts and generosity of COLMASSA to the College, saying that it was the first time college students would spend their fund judiciously, as he attributed the feat to the fact that they were truly management students, who should know a lot about fund management. He further appreciated the Acting Dean and staff of the College for the prompt processing of students’ results, saying COLMAS had grown to become a factor in the admission process of the University. He also recalled that out of the 17,434 applica
tions received during the 2016/2017 admission exercise, about 10,500 applied to study in the College. The Vice-Chancellor encouraged members of staff of the College to keep working harder, saying all hands should be on deck to maintain the existing standards.
The Acting Dean of COLMAS had thanked the 
University Management for its usual support for the College, adding that the College would always key into the vision of the University, as he also extolled the virtues of his predecessor, Dr. Abiola Philips of the Department of Economics. Speaking at the commissioning of the donated security desk and chairs, the President of COLMASSA, Comrade Ayodeji Oloruntuyi, appreciated the University Management and College leadership for providing the enabling environment for the Association to thrive. He equally appreciated those that had contributed immensely to the success of the project, particularly, the team members, who he said the project had been dedicated to while thanking all for attending the ceremony.