By Chinyere Anyanwu
The National Institute of Credit Administration (NICA) has called on the Organised Private Sector (OPS), the academia, among others, to take advantage of the official recognition of the credit management profession in Nigeria and join NICA by direct entry. NICA’s registrar, Prof. Chris Onalo, said that credit management was recently approved as a profession by the Federal Government and the institution is the regulator of credit management profession in Nigeria in full accord with the NICA Act No 26 of 2022.
He said; “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 providing communities to actively participate in developing frameworks that secure the country’s economic resilience.
He said NICA’s new status gives its members, entrepreneurs, business directors, managers, among others in the country, a competitive advantage when engaging with international bodies. “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,” he said. Onalo further 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.