The National Institute of Credit Administration (NICA), Nigeria's chartered credit management body, has successfully concluded the 2025 Credit Managers Conference alongside the prestigious 10th Annual Nigeria Credit Industry Awards. This significant event unfolded on Wednesday, November 27, 2025, at the Vintano Hotel in Lekki, Lagos State.
Building a Robust Credit Economy for Nigeria
The conference, themed "Credit Policy and Regulation: The Regulatory Frameworks and Policies That Impact Credit Management in Nigeria," brought together a powerful assembly of credit experts, policymakers, and industry practitioners. Their collective mission was to advance professional credit management, uphold ethical standards, and contribute to the stability and growth of the national economy.
This gathering marks a pivotal moment for the credit profession in Nigeria, especially after the Federal Government's official proclamation on 22 October 2024. This proclamation, based on the NICA Act No. 26 of 2022 signed by former President Muhammadu Buhari, formally recognized credit management as a national profession and affirmed NICA as its sole chartered regulator.
Insights from Industry Leaders and Government
In his address, the Registrar and Chief Executive Officer of NICA, Prof. Chris Onalo, emphasized the conference's role in providing critical industry insights. He stated that the event helps professionals stay current with trends, regulatory updates, and emerging risks. "The conference enhances participants' knowledge in key areas such as credit risk management, regulatory compliance and the use of modern technology in credit administration management," Prof. Onalo noted.
The President of the NICA governing council, Mr. Andy Ojei, FICA, represented by Vice President Dr. Makie Idowu, FICA, highlighted the indispensable role of credit. He described it as crucial for economic growth, stability, and development, enabling businesses to thrive and fostering financial inclusion. "Government cannot implement its economic development policies in isolation; collaboration with critically relevant stakeholders... is crucial for success," Ojei stressed, urging stronger public-private partnerships.
The Honourable Minister of State for Finance, Doris Uzoka-Anite, represented by Mrs. Chinoyelum Ndidi, echoed this sentiment, calling credit "the engine of economic activities." She reiterated that a nation's economic foundation is closely tied to the strength of its credit system and commended NICA for its consistent work in shaping the future of credit practice in Nigeria.
Awards, Inductions, and a Look Forward
The event was a triple celebration, featuring the Nigeria Credit Industry Awards, the induction of new NICA members, and the PSCFM-MCMAIP graduation ceremony. The awards served to promote professionalism and innovation within the Nigerian credit industry.
Recipients were honoured across several distinguished categories, including:
- Most Astute Managing Director/Chief Executive Officer of the Year
- Entrepreneur of the Year
- Most Supportive Executive Director of the Year
Furthermore, new members took an oath of allegiance, solidifying their commitment to the high professional standards upheld by the National Institute of Credit Administration. The event underscored NICA's pivotal role in driving Nigeria's economic diversification agenda and building a sustainable credit culture for the future.
