The President of the National Institute of Credit Administration (NICA) chartered, Mr. Andy Ojei, FICAopened the June 2025 Induction Ceremony by warmly welcoming new inductees and expressed pride in leading NICA.
The President emphasized the critical role credit management plays in driving economic growth, stability, inclusion, and business development. By virtue of being established by Act No. 26 of 2022, NICA’s statutory mandate is to control, supervise, regulate, and advance best practices in the credit economy, positioning it as a key contributor to national financial progress.
As part of its commitment to excellence, every new inductee is expected to undertake the Mandatory Credit Management Academic Improvement Programme (MCMAIP), a six-month training course designed to equip members with the essential knowledge and skills required for effective credit administration. This ensures that all members can confidently defend their qualifications and uphold the Institute’s high standards. Additionally, members who complete the MCMAIP are eligible to continue with a 24 month professional certification programme facilitated by the Postgraduate School of Credit and Financial Management (PSCFM), held virtually twice a month.
Mr. Ojei underscored the importance of professional conduct, announcing that NICA has developed a Code of Ethics and Bye Laws to govern member activities. He urged all inductees to download and familiarize themselves with these documents via the Institute’s website.
The President also acknowledged the historic milestone achieved on October 22, 2024, when the Federal Government officially declared Credit Management a recognized national profession and affirmed NICA as its regulator. This proclamation elevated the status of NICA’s qualifications and certifications to national recognition, solidifying its pivotal role in shaping the profession.
Inducted Fellows (FICA) were informed of their automatic inclusion into the Board of Fellows (BOF), whose principal function is to assist government and economic policy makers by contributing fresh, quarterly roadmaps for economic development. The President closed his speech with a congratulatory note, expressing enthusiasm to collaborate with all new inductees in pursuit of shared goals and a robust, globally recognized credit management profession.
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