“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.”
NO. 44
