The National Institute of Credit Administration (NICA) has celebrated its three-decade anniversary, drawing professionals, policymakers and leaders across the federation.
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President and Chairman of Governing Council, Andy Ojei, traced the institute’s roots to its visionary inception in 1992 as Institute of Credit Administration (ICA) before evolving into a non-profit professional organisation.

He added that in 2002, it gained legal status as a body limited by guarantee under Nigerian law, progressing further with the passage of the ICA Bill for Charter in 2009.

According to him, a historic moment occurred in August 2022 when former President Muhammadu Buhari signed the NICA Establishment Act into law, officially designating it as Act No. 26 of 2022, heralding the institute’s charter status as National Institute of Credit Administration (NICA) Chartered .

Commissioner Mobolaji Ogunlende, who represented Lagos State Governor Babajide Sanwo-Olu, praised the institute’s crucial role in supervising and regulating the credit environment in Nigeria.

He noted the significance of the law at a time of rapid economic evolution, expressing the Lagos State government’s commitment to fostering financial stability and supporting responsible credit management.

“The empowerment Act of the institute at this time is very crucial due to our rapidly evolving economic landscape, where the need for responsible credit management and lending practises is greater than ever, making the role of NICA very important,” government stated.
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