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NICA writes open letter to entrepreneurs, business directors, managers, others

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National Institute of Credit Administration

National Institute of Credit Administration NICA

The National Institute of Credit Administration (NICA), has written an open letter to entrepreneurs, business directors, managers and other sectors. The letter was signed by the Chief Executive Officer, NICA, Prof. Chris Onalo.

Full text of the letter:

As credit management profession was recently proclaimed “a national profession” by the Federal Government of Nigeria with qualifications in Credit Management unveiled as nationally recognised, the National Institute of Credit Administration (NICA), chartered effectively is the supervisor and regulator of credit management profession in Nigeria in full accord with the NICA Act No 26 of 2022.

This development has formally and officially recognised the credit administration management profession in Nigeria. Credit Management now holds an esteemed place in the nation’s economic and academic landscape. Members of NICA now enjoy elevated credibility and respect in both the private and public sectors, as their expertise is considered citadel to economic growth and development. This new standing enhances their professional authority, affirms the value they bring to organisations, and solidifies the role of credit management as indispensable to a sustainable national and international economic development agenda.

NICA’s federal recognition also empowers the institute to influence national economic transitioning policies, regulations, and standards, enabling NICA members and credit granting/providing communities to actively participate in developing frameworks that secure the country’s economic resilience. This growth will create vast opportunities for NICA members to contribute as credit economy consultants, advisors, managers, and educators, supporting organisations that prioritise strong credit practices and the stability of the national economy.

Additionally, NICA’s recognition and the recent proclamation of credit management by the Federal Government as a nationally recognised profession gives NICA members, credit using entrepreneurs, business directors, managers, and educated persons in the country a competitive advantage when engaging with international bodies, as part of an institute respected by national and global entities. NICA members are now better positioned to leverage their expertise and pursue opportunities on an international stage. We are excited about the journey ahead for NICA and the immense benefits to current and future members who are committed to advancing and participating in credit economy management in Nigeria, Africa, and the rest of the world.

You may ask, “Who is qualified to join NICA?”

Business owners, Entrepreneurs, Managing Directors, CEOs, Top Management officers, new entrants, top executives, and subordinates in both public and private institutions, as well as lecturers and graduates of tertiary institutions, and all educated individuals with a minimum of HND/BSc or above can join NICA by Direct Entry.

Upon induction of any person as a holder of NICA professional membership qualification, such a person will immediately commence NICA Member’s Mandatory Credit Management Academic Improvement Programme (MCMAIP). The programme is conducted by NICA’s accredited Postgraduate School of Credit and Financial Management (PSCFM), totally online, every two (2) Saturdays of the month, for a period of six months.

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