The National Institute of Credit Administration has said it committed to catalysing the economy from a cash-based system to a vibrant credit system.

It also said it would celebrate its newly conferred statutory powers under the NICA Act number 26 of 2022, granting control, supervision, and regulation over the credit management profession in Nigeria.

In a statement, it said these powers included the awarding of professional qualifications and certifications to qualified candidates post-examination and the promotion and protection of the interests of business credit providers/grantors across various sectors of the economy.

The Chief Executive Officer of the National Institute of Credit Administration, Prof. Chris Onalo, said the event, scheduled to take place in October 2023, would bring together prominent individuals within and outside the Institute.

“The purpose of the event is to engage in meaningful interactions and exchange ideas about the institute’s mandate as Nigeria’s national authority for the control, supervision, and regulation of the credit management profession,” he said.

The occasion, he added, held particular significance as it marked the first time institute members were uniting to uphold the responsibility that its founding fathers bore for the credit industry in Nigeria.

He said, “It’s a moment to recognise outstanding contributions and for members to collectively embrace the future of their Institute.”

“Furthermore, it’s worth noting that NICA, a chartered institute, is recognised as the third largest statutory credit management professional body globally, following the United States of America and the United Kingdom.”

 

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