The Association of Corporate Treasurers of Nigeria (ACTN) was incorporated in August 2014, as an Association Limited by Guarantee (LTD/GTE) to foster the interests of Corporate Treasurers of the non- financial organizations by providing a platform for policy advocacy, discussions on issues of mutual interest, education and standard development of the corporate treasury function. The ACTN also facilitates the exchange of information beneficial to the management of corporate treasury operations and the professional development of its members.
The role of the treasury profession has evolved rapidly over the last ten years. In addition to the basics of banking relationships and cash management, treasury managers have to inform themselves about developments in electronic payment systems, e-commerce, risk management and relevant SWs for modeling and evaluating risks, credit management, accounting standards, tax optimizations, and a variety of other issues. More than ever, treasury practitioners also have to collaborate with other managers to coordinate the flow of financial information throughout an organization.
Thus, there is a need for a platform to promote education and capacity building for the Treasury profession as well as to advocate at the highest levels to influence policy and regulation from the perspective of Nigerian corporations.
In the current business landscape, the importance of treasury management really can’t be understated. With the ever-increasing pace of change in regulation, compliance and technology in the financial sector, the Corporate Treasury function is increasingly becoming a strategic business partner across all areas of the business, adding value to the operating divisions of the company – taking-on responsibility of strategic money management in order to meet the financial goals of the business. The ACTN is therefore needed to provide a meeting forum for all treasury, finance and risk management practitioners within the non-financial sector.