NICA Conference: Sanwo-Olu emphasises credit as catalyst for economic growth
L-r: Council Vice President, National Institute of Credit Administration (NICA), Dr. (Mrs) Markie Idowu; Representative of Vice President Kashim Shettima and Technical Advisor to the President on Economic and Financial Inclusion, Dr. Nurudeen Abubakar Zauro; Council President, NICA, Mr. Andy Ojei; Registrar/CEO, NICA, Prof. Chris Onalo, and Representative of Governor, Lagos State, Mrs Alake Sanusi, during the National Credit Managers Conference/Nigeria Credit Industry Awards, 2024 held at Bankers House, Lagos on Tuesday.
Abdullateef Fowewe
Lagos State Governor, Babajide Sanwo-Olu has emphasised the key role of credit in fostering sustainability during the 2024 National Credit Managers Conference.
He spoke at the inaugural National Credit Managers Conference and the annual Investiture of the Nigeria Credit Industry Awards, by the National Institute of Credit Administration(NICA).
The two-day conference themed “Credit Grows Green Economy,” was widely attended by stakeholders from different sectors of the economy, and industry leaders who made presentations on strategies for integrating credit into sustainable development initiatives across the nation.
Sanwo-Olu who was represented by Alake Sanusi of Lagos Debt Management Office, while addressing attendees, stated that transitioning to a credit-based economy is essential for Nigeria’s growth, particularly in promoting environmentally friendly practices.
He said, “This event comes at a critical juncture in Nigeria’s economic journey, as we seek to transition from a predominantly cash-based economy to one that thrives on credit, an economy that is not just efficient, but also sustainable and inclusive.
“A green economy fueled by responsible credit practices aligns perfectly with our collective goal of fostering growth that is environmentally sustainable, socially inclusive, and economically viable.
“Lagos is uniquely positioned to lead in the development of a multidimensional credit-cultured economy. The Lagos State Government is committed to creating a robust environment for credit expansion, ensuring that businesses and individuals alike can access the financial resources needed to thrive. The importance of credit in powering economic growth cannot be overstated.”
Sanwo-Olu commended the NICA for its key role in fostering a culture of credit management in Nigeria, stating that the institute is building a future for economic reforms that will benefit the next generations
At the event, The Vice President, Kashim Shettima, who was represented by his Technical Adviser on Economic and Financial Inclusion, Dr Nurudeen Zauro, formally unveiled the Credit Management Profession.
He stated that the recognition marks a significant step towards enhancing Nigeria’s credit landscape.
President and Chairman of the Governing Council, Andy Ojei, expressed immense pride in the advancements made within the credit profession and the institute’s commitment to fostering a sustainable credit ecosystem.
During his opening address, Ojei emphasised the conference’s theme, “Credit Grows Green Economy,” as Nigeria navigates its path toward economic sustainability, underscoring the key role of credit in driving growth, innovation, and opportunities across all sectors.
