The National Institute of Credit Administration (NICA), chartered, has successfully held the Investiture of its President/Chairman of Governing Council, Dr. (Mrs) Markie Idowu, FICA, alongside other Fellow Governing Council Members, the Conferment of NICA Fellowship and Honorary Fellowship, and a Paper Presentation on “The Role of Credit in Nigerian Economic Transformation.”
The landmark ceremony attracted an array of distinguished personalities from across Nigeria’s financial, corporate, and public sectors. The Commissioner for Energy and Minerals, Lagos State, Biodun Ogunleye represented the Governor of Lagos State at the event. He gave a goodwill message, emphasizing the importance of Credit. Among other dignitaries present were the Group Chairman of Union Bank of Nigeria, Mr. Bayo Adeleke; former Chairman of Access Bank, Dr. Mrs. Mosun Olusoga, and one of Nigeria’s business gurus, Funso Williams.
Chairman of Express Portfolio Services Limited, Dr. Awa Ibraheem; and Financial Economist and Banker, Dr. Jaiye Oyedotun, were conferred with the Honorary Fellowship of the Institute.
The following individuals were conferred with the Professional Fellowship of the Institute;
- Co-Founder and Vice Chairman of Channels Television, Mrs. Momoh Olusola
- Managing Director/Chief Executive Officer of Polaris Bank, Kayode Lawal
- Managing Director/Chief Executive Officer of Union Bank, Yetunde Oni
- Entrepreneur, Co-Founder & CEO Moniepoint Inc, Mr. Tosin Eniolorunda
- Director MoDD Management Company limited, Mrs. Chioma Adaobi Okigbo
- Managing Director and Chief Executive Officer NIBSS, Mr. Premier Oiwoh
- Chief Executive Officer FAE Limited, Princess Layo Bakare Okeowo
- Chairman Odu’a Investment Company Limited, Otunba Bimbo Ashiru
- SSG of Ogun State, Mr. Olatokunbo Joseph Talabi
- Managing Director CEO SANEF Mrs. Uche Uzoebo, HCIB, M.CIoD
- Founder & Group Managing Director of SystemSpecs, Dr. John Tanimola Obaro
- Executive Director, Business Support, Access Bank, Ms Bolaji Olaitan Agbede
- Managing Director/ CEO Lotus Bank, Dr. Isiaka Ajani-Lawal
- Founder/Group Managing Director Interswitch, Mr. Mitchell Elegbe
- GMD/Chief Executive Officer EMADEB Energy Group Mr. Adebowale Olujimi
- Director, Payments System Supervision Department CBN, Dr. (Mrs.) Rakiya Opemi Yusuf
- Chief Executive Officer Sterling Bank Limited, Mr. Abubakar Suleiman
- Managing Director/CEO, Global Infoswift Limited, Ambassador Afolabi Oke
In a paper titled “The Role of Credit in Nigerian Economic Transformation”, an economist, Prof. Biodun Adedipe, founder and Chief Consultant, B. Adedipe Associates Ltd., said Nigeria’s economic transformation would remain unattainable without a deliberate reset of its credit ecosystem. He also said the structure and architecture of the credit system were critical, particularly at a time when the country was undergoing macroeconomic reforms and policy shifts. According to him, Nigeria still has significant room to expand credit to stimulate growth.
In the welcome address of Registrar/Chief Executive Officer of the Institute, Professor Chris Onalo, FICA, reaffirmed NICA’s statutory mandate and national relevance. He emphasized the Institute’s responsibility as a chartered professional body empowered to regulate, supervise, and control credit management practice in Nigeria, and to advise government on credit economy management.
He stated:
“Distinguished Guests, esteemed members of the NICA Governing Council, NICA Board of Fellows, NICA’s Eminent Life Members, Reliable Sponsors, Members of the press, ladies and gentlemen, it is my honour to welcome you to this momentous occasion, the Presidential Investiture of the New NICA Governing Council, led by our esteemed President and Chairperson, Dr. (Mrs.) Markie Idowu. As Registrar & Chief Executive Officer of the National Institute of Credit Administration, 1, Professor Chris Onalo, am privileged to stand before you today.
The National Institute of Credit Administration, as a chartered professional body, is mandated to control, supervise, and regulate the credit management profession in Nigeria. We are also committed to advising and consulting with the government on all matters relating to credit economy management, and strengthening the professional practice of credit management throughout the nation.
It is memorably refreshing to recall that on October 22, 2024, in Lagos, the Federal Government of Nigeria proclaimed CREDIT MANAGEMENT A NATIONAL PROFESSION and its qualifications nationally recognised. This milestone achievement came three years after the institute attained its chartered status, following a rigorous effort that lasted 16 years. This feat underscores NICA’s dedication to promoting credit literacy and excellence in Nigeria’s credit management space.
Furthermore, as you are already aware, NICA has been selected as one of the top six special professional bodies in Nigeria with whom the Federal Government has signed MOU for the planning and implementation of the national credit and financial inclusion training programmes (PreCEFI). This initiative aims to benefit 10 million Nigerians, with priority given to women and youth entrepreneurs throughout the nation.
As a chartered institution, the National Institute of Credit Administration (NICA), stands out from other professional institutes in its unwavering commitment to promoting credit management professionalism and empowering Nigerians with credit literacy.
Unlike other institutes, NICA recognizes that credit economy management is the lifeblood of commerce, influencing every aspect of business, social, and economic life. From the way people save and invest, to how businesses access capital and thrive, credit management plays a leading role ————— Credit touches every stage of economic activity, such as:
Distribution:because it enables businesses to expand, innovate, and reach new markets
Consumption:because it influences purchasing power and standards of living Development: because it drives entrepreneurship, job creation, and economic growth
By regulating and promoting best practices in credit management, NICA is shaping Nigeria’s economic future. Our focus extends beyond mere transactions to fostering a culture of responsible credit business transactions and management, financial inclusion, and sustainable economic growth.
NICA’s uniqueness lies in its:
- Holistic Approach in addressing credit management as an integral part of national development
- Professional Excellence in setting standards for credit administrators and promoting best practices
- National Impact by influencing policies, advising government, and empowering citizens
As Nigeria’s premier credit management institute, NICA is dedicated to unlocking economic opportunities and helping the government to improve the lives of Nigerians.
Today’s investiture marks a significant milestone in NICA’s journey. I congratulate Dr. (Mrs.) Markie Idowu, FICA, and the new Governing Council members on this appointment. We look forward to your leadership and expertise in driving NICA’s mission and vision. Let us work together to unlock economic opportunities, and ensuring that Nigerians, both individuals and organizations, are responsible and creditworthy.
Thank you and God bless Nigeria.”
In the acceptance speech of the newly invested President/Chairman of Council, Dr. (Mrs) Markie Idowu expressed humility and a strong commitment to visionary leadership. She declared:
“Distinguished guests, members of Council, the Registrar, fellows, members, partners, ladies and gentlemen.
Today, with deep humility, profound gratitude, and an unwavering sense of duty, I stand before you as President and Chairman of Council of the National Institute of Credit Administration, Chartered. I accept this responsibility not as a privilege, but as a sacred trust — a call to serve, to strengthen, and to lead this great Institute into its next era of impact and national relevance.NICA was born from vision — the bold and foresighted vision of our Founder, Professor Chris Onalo, who’s pioneering leadership established credit as a professional discipline. Today, we honour his legacy, his courage, and his enduring contribution. We also recognise all past Presidents, Council members, and dedicated professionals whose collective efforts have built the strong institution we proudly lead today.
As I assume office, I do so at a defining time for our nation — a time when access to responsible credit, financial inclusion, risk governance, and institutional integrity will shape Nigeria’s economic future. NICA must therefore rise beyond tradition into greater national relevance — not only as a professional body, but as a strategic force in advancing sustainable economic progress.
In demonstration of this responsibility, we recently signed a landmark Memorandum of Understanding with the Office of the Vice President of the Federal Republic of Nigeria, through the Presidential Committee on Economic and Financial Inclusion (PreCEFI). This partnership affirms the growing national recognition that structured, ethical, and inclusive credit is central to empowering citizens, strengthening enterprises, and advancing national development. NICA will continue to stand at the forefront of this transformation.
During my tenure, we will elevate professional standards, deepen credit education, embrace digital innovation in credit practice, and reinforce ethical discipline across the industry. We will strengthen our institutional voice, expand our national impact, invest in the next generation, and ensure that credit in Nigeria becomes a tool for productivity, opportunity, and sustainable growth — never a pathway to distress.
Leadership is stewardship. It is the duty to build trust, inspire confidence, and leave institutions stronger than we met them. I draw strength from the wisdom of Council, the commitment of our fellows and members, and the partnership of stakeholders across government, industry, and society. Together, we will write the next chapter of NICA — stronger, bolder, and more impactful.
On a personal note, I wish to express my deepest gratitude to my husband for his unwavering love, encouragement, and quiet strength. His steadfast support has been a constant pillar throughout this journey of service, and I am truly grateful for the sacrifice, patience, and belief that have sustained me.
Let me assure you today: I will serve with integrity. I will lead with courage. I will act with purpose. And by the grace of God, we will deliver enduring value to our profession and to our nation.
“The future of credit in Nigeria will not be shaped by chance, but by discipline, vision, and leadership — and NICA will lead that future”
Thank you.”
The event was proudly sponsored by Moniepoint, Polaris Bank, Wema Bank, Xpress Payment Solutions Limited, and Parallex Bank, reflecting strong private-sector support for professional credit administration and financial inclusion initiatives.
The investiture marks a renewed chapter of strengthened leadership, expanded national influence, and deeper institutional impact for NICA as it continues to champion ethical, structured, and inclusive credit systems across Nigeria.
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