Poor financial records, cash flow woes crippling Nigerian businesses — SWAN

By Olasunkanmi Akoni
LAGOS — The Society of Women Accountants of Nigeria (SWAN) has identified poor financial record-keeping, inadequate cash flow management, ineffective pricing and limited understanding of profitability as some of the factors undermining the survival and growth of businesses in Nigeria.

The association said many promising businesses struggle not necessarily because of a lack of opportunities or customers, but because their owners lack the financial knowledge required to manage resources and make informed decisions.

SWAN stated this at its 2026 Accounting for Non-Accountants Workshop, held on Thursday at the Institute of Chartered Accountants of Nigeria (ICAN) ...