Members of Business Recovery and Insolvency Practitioners of Nigeria (BRIPAN) on Friday sought partnership with the three tiers of governments and finance stakeholders in the management of public funds.

The newly-elected President of BRIPAN, Mr. Sola Oyetayo, made the call on the sideline of the Annual General Meeting and Investiture of the organisation held in Lagos.

The News Agency of Nigeria (NAN) quotes Oyetayo as saying that insolvency practitioners were one of the most needed professionals when most state governments, agencies and companies are facing debt and financial challenges.

He also urged the Federal Government to assist in leveraging the profession in Nigeria by granting the organisation a chartered identity and status.

“There is no better time for insolvency practitioners to take up the challenge to support the government and other stakeholders in a time when many of them are in debt.

“We want to support the government in debt recovery, and by God's grace the next two years will be the best time for us to do that.

“We hope to increase our revenue base from what it is now and also channel our services better to our end-users which include SMEs, manufacturers and regulatory authorities.

“If insolvency practitioners are given the necessary support, the issue of debt recovery and death of businesses would be reduced.

“While the government is doing its part, I also urge practitioners to increase their expertise and integrity in their respective organisations to prove their worth.”

Also speaking, the immediate past president, Mr. Dele Odunowo, appealed to the Institute of Chartered Accountants (ICAN) to collaborate with BRIPAN in its insolvency practice

He said that so many professional bodies ended up duplicating duties, when they could simply go into partnerships.

“The MoU we have been seeking with ICAN is regarding its insolvency unit, where trainings can go on in a symbiotic manner between both bodies.

“The partnership will definitely be beneficial to our accounting, taxation, legal and cross border issues faculties.”

Odunowo also appealed to the new administration to urgently pass the Insolvency Bill into law.

He said that the insolvency law would be of importance to international bodies like Insol International and the World Bank, which are major economic pillars of the country (NAN)

*Photo shows Buhari

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