Tuesday, 30th April 2024.

CreditEconomy News Interview

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

Registrar/Chief Executive Officer, NICA


Nigeria’s statutory body for the control, supervision, and regulation of credit management profession, the National Institute of Credit Administration, has canvassed credit availability to promote made in Nigeria goods.

Speaking with our correspondent, the Registrar/Chief Executive Officer of NICA, Prof Chris Onalo, said access to funds through credit will increase production of quality and quantity of locally made goods that will be able to compete better with foreign goods.

“Buy today, pay tomorrow, is the route for decent living as this pre-disposes citizens to good things of life, leading ultimately to the availability of quality and less- priced made in Nigeria goods and services, culminating in a healthy competition among product producers, as well as sustainable revenue generation to government, among others,” he said.

The professor said using credit to produce and sell more goods and services will keep the nation’s production machines running round the clocks, which in turn, creates jobs and wealth for the nation.

As a national statutory body for credit management profession, he said, NICA will work together with its network and other bodies, to ensure positive change within the credit industry.

“He noted that globally, credit economy is known for promoting the culture of integrity and honesty in business or any form of commercial dealings”.

Onalo said NICA will maintain constructive advocacy for national rebirth in terms of trust, integrity and honest characteristics.

The much desired and anticipated good standards of living in any country and Nigeria in particular, he explains, calls for respect for due process.

He said NICA is at the forefront of improving competency within the credit industry, and plays a pro-active role in ensuring integrity in credit business, influencing access to credit and finance, as well as providing accreditation to credit management training providers.

“Onalo said, the institute will further encourage and advance education and practical training and research into credit management profession, helping to foster effective credit administration in the country, among others”.

As a chartered prestigious body of eminent credit management elites, charged with the national task of controlling, supervising and regulating credit management profession in Nigeria, he said, the institute will maintain a staunty advocacy for the promotion and protection of integrity, honesty and ethics in the credit management profession, locally and globally.

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