NICA celebrates its newly conferred statutory powers under the NICA Act number 26 of 2022, granting control, supervision, and regulation over the credit management profession in Nigeria. These powers include awarding professional qualifications and certifications, and promoting and protecting the interests of business credit providers. The National Institute of Credit Administration plans to hold an event in October 2023 to engage in meaningful interactions and exchange ideas about its mandate as Nigeria's national authority for credit management. NICA is recognized as the third largest statutory credit management professional body globally.[33e2e57e]
Experts emphasize the importance of a viable credit system for the economy. Lagos State Governor, Babajide Sanwo-Olu, highlights the need to promote credit management profession. NICA celebrates its 30th anniversary and its recent achievement as a national chartered professional body for credit management in Nigeria. NICA aims to contribute to the ease of doing business and attract trade and investment into the country. NICA plans to build a world-class credit management headquarters in Lagos.[1b117b99]