Distinguished Guests, esteemed members of the NICA Governing Council, NICA Board of Fellows, NICA’s Eminent Life Members, Members of the press, ladies and gentlemen. In line with the relevant provisions of the Institute’s Charter, my tenure as President of the National Institute of Credit Administration formally comes to an end on the 31st of December, 2025. It has indeed been a most fulfilling and rewarding experience. Serving this great Institute has been one of the high points of my professional journey, and I step aside with a deep sense of pride, gratitude, and accomplishment.
Since joining the Institute in 2010, I have had the privilege of working assiduously with successive Councils to advance the objectives of the Institute—chief among them, the democratization of credit and the setting of professional standards for credit management in Nigeria. These efforts were undertaken under the exceptional leadership and guidance of our versatile, energetic, and indefatigable Registrar, Professor Chris Onalo.
During my tenure, and through the resilience of Professor Chris Onalo, FICA, our very humble Registrar/Chief Executive Officer, the following milestones were achieved.
1. The Institute attained chartered status under Act No. 26 of 2022, having previously operated as the “Institute of Credit Administration (ICA)”. It may interest you to know that this achievement followed a rigorous and determined process that spanned sixteen years. The Institute was originally established in 1992 as a not-for-profit professional body by the Corporate Affairs Commission (CAC). Securing chartered status marked a defining moment in our history.
Following this accomplishment, we considered it both symbolic and strategic that the President of Nigeria, who graciously appended his signature to the Bill should take a further step to formally unveil the Act to the nation. This unveiling signified not merely the signing of a law, but a clear statement to Nigerians on what the legislation was designed to achieve for the country.
2. On October 22nd, 2024, the present Federal Government formally proclaimed CREDIT MANAGEMENT a national profession, with its qualifications recognized nationwide.
Distinguished ladies and gentlemen, these are no small milestones for a profession newly admitted into the esteemed community of recognized professions in our country.
It is with great confidence and optimism that I now hand over the baton of leadership to another seasoned professional, Dr. (Mrs.) Markie Idowu, FICA. Given her vast experience, distinguished pedigree, and deep understanding of the Institute’s mission, I have no doubt whatsoever that she will lead the Institute to even greater heights.
I wish to emphasize that credit management, an ethos which NICA proudly embodies, must remain our collective responsibility. Credit is the catalyst for economic growth and national development. In this regard, I pledge my continued support and involvement in the affairs of the Institute, even as an ex-officio of the Governing Council members.
My sincere appreciation goes to all members of the Council for your unflinching support throughout my tenure. I also extend my gratitude to the Board of Fellows and the Secretariat for your commitment, professionalism, and enduring belief in the vision of the Institute.
I reserve my deepest appreciation for our Founding Registrar/Chief Executive Officer, Professor Chris Onalo. He truly embodies the spirit of the Institute. His passion for credit management profession and his relentless drive to get things done are, indeed, legendary. Thank you, Professor.
Because credit remains the lifeblood of any economy, the National Institute of Credit Administration will undoubtedly continue to occupy a central and strategic position in Nigeria’s economic landscape.
Once again, I thank you all for the privilege and honour of serving as your President.
God bless you all, and God bless the National Institute of Credit Administration”.
NO. 44
