BY JUMAI NWACHUKWU
THE Vice Chancellor of Delta State University, Abraka, Professor Andy Egwunyenga, has called on university professors to ensure their academic work contributes meaningfully to their communities.
Speaking at the university’s 109th Inaugural Lecture in Abraka on Thursday, Prof. Egwunyenga emphasized that professors, as “custodians of knowledge,” bear the responsibility of addressing society’s most pressing needs through their research.
In his address, Prof. Egwunyenga praised Professor Augustine Okolie’s lecture, describing it as a timely exploration of income and earnings management for sustainable development. He underscored the relevance of this topic for individuals, organizations, and society as a whole.
The Vice Chancellor also noted a significant gap in academia, observing the shortage of Accounting professors in Nigeria, a trend he attributes to many accountants opting for careers outside academia. However, he commended Delta State University’s Accounting Department, which boasts a distinguished team of professors and dedicated lecturers.
The 109th Inaugural Lecture was particularly notable for Prof. Egwunyenga, who announced it as the last lecture he would preside over as Vice Chancellor. His five-year tenure concludes in November 2024. Reflecting on his term, he expressed gratitude to the university community, especially the professors, for their support. During his tenure, the university hosted 26 inaugural lectures, despite a one-year hiatus due to the COVID-19 pandemic.
A distinguished scholar in Accounting and Financial Reporting, Professor Augustine Okolie delivered the lecture titled, “Income Smoothed, Earnings Managed, and Financial Disclosure Quality Damaged: The Primal Paradox of Aggressive Accounting.” His presentation critically examined the challenges posed by aggressive accounting practices and their impact on income reporting and financial transparency.
Prof. Okolie’s lecture shed light on the complexities of financial disclosures and earnings management. He analyzed how factors like foreign exchange instability, insecurity, and electricity shortages have driven many international companies out of Nigeria, leading to the collapse of local businesses and financial institutions. Okolie urged investors to conduct thorough due diligence and encouraged financial experts to ensure accuracy in financial records before public disclosure.
Following his lecture, Prof. Okolie was awarded Delta State University’s Medal for Inaugural Lecturers by the Vice Chancellor. The Institute of Chartered Accountants of Nigeria (ICAN) also honored him with a cash prize of one million naira, presented by Mr. Hyginus Nwafor on behalf of ICAN’s 60th President, Chief Davidson Chizuoke Alaribe.
The highlight of the event was the attendance of notable attendees included Deputy Vice Chancellors Prof. (Mrs.) Rosemary Okoh and Prof. Ochuko Anomohanran, Provost of Oleh Campus Prof. Eloh Ibagere, Registrar Mrs. Rufina Ufuoma Ufiofio, and University Orator Prof. Enajite Eseoghene Ojaruega, who presented a citation for Prof. Okolie. The lecture drew an audience that included seven traditional rulers, deans, directors, university staff, students, family members, and invited guests, highlighting the event’s significance.
