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The National Institute of Credit Administration (NICA) has emphasised the importance of credit management to advancing the country’s and Africa’s economy, as it harped on the need for business owners, entrepreneurs, managing directors, CEOs, top management officers, top executives and subordinates in both public and private institutions, as well as lecturers and graduates of tertiary institutions, among others, to take advantage of the recent official recognition of the Credit Management profession in Nigeria and join the institute by direct entry.
This was contained in a recent statement signed by NICA’s Registrar/Chief Executive Officer, Prof. Chris Onalo.
Onalo said, “as Credit Management profession was recently proclaimed ‘a national profession’ by the Federal Government of Nigeria with qualifications in Credit Management unveiled as nationally recognised, the National Institute of Credit Administration (NICA), chartered effectively, is the supervisor and regulator of credit management profession in Nigeria in full accord with the NICA Act No 26 of 2022.”
According to him, “Credit Management now holds an esteemed place in the nation’s economic and academic landscape. Members of NICA now enjoy elevated credibility and respect in both the private and public sectors, as their expertise is considered critical to economic growth and development.
This new standing enhances their professional authority, affirms the value they bring to organisations and solidifies the role of credit management as indispensable to a sustainable national and international economic development agenda.”
Prof. Onalo further stated that the credit administration institute’s recognition empowers it to influence national economic transitioning policies, regulations and standards, as well as enabling its members and credit granting/providing communities to actively participate in developing frameworks that secure the country’s economic resilience.
He said NICA’s new status gives its members, credit using entrepreneurs, business directors, managers, among others in the country, a competitive advantage when engaging with international bodies, adding that, “NICA members are now better positioned to leverage their expertise and pursue opportunities on an international stage. We are excited about the journey ahead for NICA and the immense benefits to current and future members who are committed to advancing and participating in credit economy management in Nigeria, Africa and the rest of the world.”
The NICA registrar/CEO explained that upon induction, holders of NICA professional membership qualification are required to embark on a Mandatory Credit Management Academic Improvement Programme (MCMAIP) conducted by NICA’s accredited Postgraduate School of Credit and Financial Management (PSCFM), totally online, for a period of six months.
