Today In History: September 9th

September 9, 1961

On this day, at least twelve people were arrested by the police at the motor park, Ilesha, following a clash between supporters of the NCNC and Action Group over the use of the park.

The scuffle was said to have started when supporters of the NCNC who were mainly lorry owners alleged that they were being ejected from the park by the Action Group dominated Caretaker Committee of the Ilesha Urban District Council for political reasons.

They further alleged that supporters of the Action Group and the Local Government Police were being used to eject them from the park. The anti-riot police squad which had been based temporarily at Ilesha, assisted by the Ilesha detachment later restored order in the area.



On this day, the Nigerian Accounting Standards Board (NASB) was established as a private sector initiative closely associated with the Institute of Chartered Accountants of Nigeria (ICAN) before it was taken over by the government. Upon formation of the NASB, both ICAN and ANAN nominated two members to the board in order to assist NASB in developing, publishing, and updating statements of Accounting Standards.

It is the only recognised independent body in Nigeria responsible for the development and issuance of Statements of Accounting Standards for users and preparers of financial statements, investors, commercial enterprises and regulatory agencies of government.

The work of the NASB is similar to those of other National Accounting Standard Setting bodies like the Financial Accounting Standards Board, USA; Accounting Standards Board, UK; Australian Accounting Research Foundation, Australia, etc.

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