The National Institute of Credit Administration has announced its commitment to transforming the economy from a cash-based system into a dynamic credit system.
Furthermore, it expressed its intention to commemorate the newly conferred statutory powers granted by the NICA Act number 26 of 2022. These powers encompass control, supervision, and regulation over the credit management profession in Nigeria.
According to a statement, these powers include the authority to grant professional qualifications and certifications to eligible candidates post-examination, as well as the promotion and safeguarding of the interests of business credit providers and grantors across various sectors of the economy.
The Chief Executive Officer of the National Institute of Credit Administration, Prof. Chris Onalo, indicated that the event, scheduled for October 2023, would bring together prominent figures both within and outside the Institute.
“The purpose of the event is to engage in meaningful interactions and exchange ideas about the institute’s mandate as Nigeria’s national authority for the control, supervision, and regulation of the credit management profession,” he said.
The occasion, he added, held particular significance as it marked the first time institute members were uniting to uphold the responsibility that its founding fathers bore for the credit industry in Nigeria.
He said, “It’s a moment to recognize outstanding contributions and for members to collectively embrace the future of their Institute.”
“Furthermore, it’s worth noting that NICA, a chartered institute, is recognized as the third largest statutory credit management professional body globally, following the United States of America and the United Kingdom.”
