The National Institute of Credit Administration is firmly committed to transforming the economy from its reliance on a cash-based system to a dynamic credit-based system.
Moreover, it eagerly anticipates celebrating the newly acquired statutory authority granted by the NICA Act number 26 of 2022.
This act empowers the institute with control, supervision, and regulation over the credit management profession in Nigeria.
In an official statement, the institute emphasized that these newfound powers encompass several critical aspects, such as the ability to confer professional qualifications and certifications to qualified candidates post-examination.
Additionally, the institute will actively promote and safeguard the interests of business credit providers and grantors across various sectors of the economy.
Prof. Chris Onalo, the Chief Executive Officer of the National Institute of Credit Administration, expressed that this upcoming event, slated for October 2023, will serve as a gathering point for influential figures both within and outside the Institute.
The primary objective of this event is to foster meaningful interactions and exchange ideas, all centered around the institute’s role as Nigeria’s national authority for overseeing and regulating the credit management profession.
Professor Onalo also emphasized the historical significance of this occasion, as it marks the first time that institute members are coming together to uphold the responsibility initially undertaken by its founding fathers for the credit industry in Nigeria.
He stated, “It’s a moment to acknowledge exceptional contributions and for members to collectively embrace the future of their Institute.”
Furthermore, it’s noteworthy that NICA, as a chartered institute, holds the distinction of being recognized as the third largest statutory credit management professional body globally, following in the footsteps of the United States of America and the United Kingdom.
