Experts have warned that poor financial data management poses a serious threat to institutional growth, urging organisations to adopt ethical standards, precision, and technology-driven systems to remain competitive and effective.
The warning was issued at a high-level workshop held at Babcock University, where stakeholders highlighted the critical role of data in shaping sound decisions and sustaining organisational performance in a rapidly evolving financial landscape.
The workshop, themed “Managing Financial Data as a Strategic Organisational Resource: The Role of Data Management Systems in Modern Organisations,” was organised by the university’s Departments of Information and Resource Management, and Finance.
Speaking at the event, the Vice President, Financial Administration/University Bursar, Folorunsho Akande, said effective financial data management was no longer optional but central to institutional success.
He stressed that financial records go beyond numbers, reflecting ethics, behaviour, and organisational integrity.
“Accurate and accessible financial data remains the backbone of modern investment decisions. Credibility in data is indispensable in today’s financial analysis landscape,” Akande said.
In a similar vein, Dr. Oladipupo Adekunle Bamiro, who represented the Association of Applied Information Management Professionals, underscored the ethical responsibilities of information managers.
He said the profession demands not only technical competence but also strong adherence to accountability, accuracy, and integrity.
“Information is power, but managing it effectively is wisdom,” Bamiro said, adding that efficient information management systems could significantly improve Nigeria’s institutional and economic development.
The event also featured the induction of new members into the association, signalling a renewed commitment to professionalism in data and information management.
The induction ceremony, coordinated by the association’s Registrar, Mr. Abayomi Olufeyomi Agunloye, saw inductees take an oath of professional responsibility.
Participants at the workshop called for continuous capacity building, strict ethical compliance, and the adoption of advanced data management systems to help organisations navigate growing financial complexities.
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