NICA reflects on an eventful 2024, thanks stakeholders for unwavering support

The National Institute of Credit Administration (NICA), chartered, has appreciated its stakeholders for the support during the 2024 financial year.

NICA wrote an open letter to its Council Members, Fellows, Members, Associates, and Partners. Here is the letter:

Dear Esteemed Council Members, Fellows, Members, Associates, and Partners,

As we draw closer to the end of an extraordinary year, we at the National Institute of Credit Administration (NICA), chartered, take a moment to reflect on a journey marked by perseverance, collaboration, and unparalleled achievements, and a year filled with challenges and triumphs.

Despite a challenging economic climate that has tested the resilience of individuals and businesses alike, NICA has both weathered the storm and achieved remarkable milestones that inspire confidence in the future of Nigeria’s credit economy. 2024 has been a year of significant progress and remarkable milestones for NICA, the credit profession, and the nation.

This year, NICA held the inaugural National Credit Managers Conference, a groundbreaking event that brought together thought leaders, industry experts, and stakeholders to advance the discourse on credit management and its role in national development. Also, this year, credit management was officially

proclaimed as a national profession, elevating its status and securing national recognition for qualifications in credit management. This historic milestone, announced during the inaugural National Credit Managers Conference, marked a turning point for the credit industry and solidified NICA’s role as a prominent catalyst institution in Nigeria’s economic growth.

Another monumental achievement was the National Universities Commission (NUC)’s pledge to collaborate with NICA to introduce Credit Management as a course in Nigerian tertiary institutions.

This initiative promises to deepen the roots of credit administration within the nation’s educational system, empowering a new generation of professionals to drive sustainable development.

In addition, NICA also held the 9th edition of the prestigious Nigeria Credit Industry Award, honouring the exemplary career accomplishments of our distinguished members who have contributed to the growth and

integrity of the credit industry.

Furthermore, our monthly inductions have continued to welcome new

professionals into the NICA fold, reinforcing our position as the vanguard of credit administration in Nigeria.

Amidst these monumental events and successes, NICA has remained steadfast in running its operations efficiently—maintaining its offices in Lagos and Abuja, supporting its staff, ensuring the smooth delivery of services, and putting out high-quality content that stimulates economic discourse.

To all who have stood by us, your support has been our cornerstone. None of these achievements would have been possible without the invaluable support and guidance of our Governing Council, the commitment of our Fellows, Members, and Associates to the NICA ideals, and the steadfast contributions of our partners (including our partners in the MDAs, the media), and the general public. Your commitment and belief in the mission of NICA have been the bedrock of our successes and made 2024 a year to remember.

As we prepare for 2025, we invite you to join hands with us again in building new memories and an even more prosperous future. With your unwavering support, we are confident in achieving even greater milestones and accomplishments that will advance the professional pursuits of our members and steer the Nigerian economy towards unprecedented growth.

NICA remains firmly committed to delivering exceptional programs, fostering innovation, producing insightful content, and creating platforms that empower businesses and individuals to thrive in line with our mandate. Together, let us make 2025 a year to remember and shape a brighter future for the credit economy in 2025 and beyond.

We wish you a joyous Christmas filled with peace, love, and happiness, and a prosperous New Year ahead.

Thank you for being an indispensable part of our journey.

Warm regards,

Warmest regards from all of us at the National Institute of Credit Administration, NICA.

Prof. Chris Onalo, FICA, ICCF, B.Sc., M.A, PhD (credit management)

Registrar/Chief Executive Officer

National Institute of Credit Administration (NICA)

Mobile: 08034030160

Email: registrar@icanigeria.net, ceo@icanigeria.net