ICAN MEMBERS’ BENEVOLENT & EDUCATIONAL TRUST FUND

ACTIVITIES OF THE MANAGEMENT COMMIITTEE 

The ICAN Members Benevolent & Educational Trust Fund was established by the Council of the Institute of Chartered Accountants of Nigeria (ICAN) in 2003 with the following objectives:

-To give financial assistance to needy members.
-To support families and dependants of those needy members who have passed on.
-To promote and invest in Research and Educational development

Members of the Management Committee

•Mrs. I. M. Osiyemi, PP, FCA-Chairman
•Mr. Doyin Owolabi, PP, FCA-Member
•Mr. Chidi Ajaegbu, FCA-Member
•Mrs M.A Olowu, FCA  -Member
•Mr. Bala Sankey Zakka, ACA-Member 
•Mr. Kayode Abe-Secretary

Eligibility Conditions

The Management Committee evolved the conditions listed below for grants to members in need:
  •  The applicant or person on whom the dependant(s) is/are making the application must be a professionally qualified member of the Institute
  •  He/She must have paid up the annual subscription of the Institute at least up to the immediate preceding year before incapacitation.
  •  The mishap for which the Fund is meant to grant succor to the member must not be due to his/her carelessness, negligence, or recklessness e.g. the fund will not be disbursed towards cases like arson, murder, man slaughter, accident resulting from use of hard drugs etc
  •  The funds will not be disbursed to meet any judgment debt or to compensate for the member’s criminal act(s)
  •  It must be proved beyond all reasonable doubts that the member cannot afford (as a result of his/her present circumstances) his immediate needs.

Current Benefits

The minimum amount of benefit to applicant members shall be a sum of Fifty Thousand Naira (N 50,000); while the maximum shall be a sum of Five Hundred Thousand Naira (N 500,000)


PROCEDURE FOR DISBURSEMENT

-Application shall be received from prospective beneficiaries stating the estimate of his/her needs-such application should also be supported by the District Society of the member
-Application to be considered by the Management Board. All applications considered and treated at any meeting where at least (2) two members of the Board are present is considered valid.
-The Secretary shall be responsible for the processing and issuance of cheque for the amount approved.
-All cheques shall be crossed ‘’account payee’’ only and made payable to the beneficiary through the District Society unless otherwise decided by the Board. 
-All failed/rejected applicants will be informed of the reason for failure/rejection.

The major activities of the Management Board are fund raising and Management of Investments. Funds so generated are invested and it is the income from the investments that are disbursed to members in need and families that are distraught. In the period under review, the Management Board had assisted members and families of dead members. This includes members who had renal (kidney) failure, blindness, stroke, spinal cord injuries, Parkinson disease, eye operation, disasters and children’s education etc. We use this medium to passionately appeal to you for donation. Kindly issue your cheque in favour of ICAN MEMBERS BENEVOLENT & EDUCATIONAL TRUST FUND or pay directly into this account: GT Bank Plc: 0014213873 .

-For further information please contact:

-Ibironke Mojisola Osiyemi (Mrs.) - Chairman

-John I. Evbodaghe, MBA, FCA - Registrar/Chief Executive

-Kayode Abe-Secretary

-Jumoke Kujore- Minutes Secretary
-Tel:01-7735204,7740627,4542088
-E-mail: corporateservices@ican.org.ng