The Periscope Reporter
Institute of Business Diplomacy and Financial Management, IBDFM, provides expertise capable of addressing challenges associated with the dwindling economy being experienced in Nigeria, Prof Dalhat Bala Suleiman said.
Dalhat, the Professor of Accounting and Finance, with Abubakar Tafawa Balewa University (ATBU) Bauchi, Northeast Nigeria, articulated this during the 42nd Mandatory Continuing Professional Development (MCPD) Programme, Investiture of Fellowship and Induction Ceremony of the IBDFM held on Saturday, November 20, 2021, at Gombe State Univeristy, GSU, Northeast Nigeria were he was made the keynote speaker.
The programme with the theme: “Best Practices in Corporate Financial Management,” has conferred Fellow Membership to distinguished personalities.
Speaking to newsmen, Prof Dalhat said he was highly delighted to be recognised and decorated as a fellow, which is the highest status in IBDFM “Looking at the relevance of the Institute to our economy, especially the dwindling economy we are having, it requires some speciality, it requires some experts to give solutions…”
His Excellency, Dr. Manassah Daniel Jatau, the Deputy Governor of Gombe State has commended the President of Council, the Registrar and Council members of the Institute for their commitment to sustainability and urged the members inducted to always be guided by professionalism.
Earlier, The Registrar and Secretary to Council Mr, Sukana Danjuma Tusha revealed that the Institute would soon attain her Chartered status.
the university don, Prof Dalhat articulated that “the life of mankind is inclined towards exchanges of goods and services among individuals and groups based on demand and comparative advantage. Businesses require finance too keep them functional and relevant. The fund used by management of organisations must be kept in records considered to be ways of best practice.
“Finance manger has three basic roles to play for the business to thrive. The roles include financing, investing and dividend planning. These decisions are taken to serve as motivating factors.
“Business concerns need finance to meet their requirements in the economic world. Any kind of business activity depends on the finance. Hence, it is called as lifeblood of business organization. Whether the business concerns are big or small, they need finance to fulfil
their business activities.
“In the modern world, all the activities are concerned with the economic activities and very particular to earning profit through any venture or activities. The entire business activities are directly related with profit making. (According to the economics concept of factors of production, rent given to landlord, wage given to labour, interest given to capital and profit given to shareholders or proprietors), a business concern needs finance to meet all the requirements.
Hence finance may be called as capital, investment, fund etc. but each term is having different meanings and unique characters. Increasing the profit is the main aim of any kind of economic activity”.