The National Institute of Credit Administration (NICA) has ushered in a new era of leadership with the investiture of Mrs. Markie Idowu as its first female president.

NICA is the premier professional body for the control, supervision, and regulation of credit management profession in Nigeria; formed in 1992 as the “Institute of Credit Administration –ICA” and became chartered by the Act of Parliament No.26 of 2022.

‘Lifeblood Of Commerce’

Speaking at the ceremony, the Registrar and Chief Executive of the body, Professor Chris Onalo, emphasised the importance of the Act of Parliament 26 of 2022, which fully empowers NICA to regulate the profession.

The doyen of credit management explained that NICA recognises that credit economy management is the lifeblood of commerce, influencing every aspect of business.

According to him, credit management plays a leading role in how businesses access capital and thrive.

Renowned economist Professor Biodun Adedipe spoke on the “Role of Credit in Nigerian Economic Transformation” in a paper presentation at the event.

In her inaugural address, NICA’s new president said that the professional body would confront challenges in the profession head-on, calling for deeper collaboration with the Federal Government.

One of the highpoints of the ceremony was the conferrement of professional fellowships of the institute on deserving Nigerians, including Vice Chairman of Channels Media Group, Dr. Olusola Momoh.

Two business leaders also received honorary fellowships.

The Institute is the most prestigious body of eminent credit management elites, business leaders and credit-using entrepreneurs in the country. (Channels)