This prestigious award was in recognition of Maduka’s role in fostering credit-based business success, as well as his contributions to business and economic development in Nigeria.
The award was presented to him during a courtesy visit by NICA at Coscharis factory in Maza-Maza, Lagos, on Thursday.
The delegation that presented the award was led by the Vice President of the NICA Governing Council, Dr. Markie Idowu, who represented the NICA Governing Council President, Mr. Andy Ojei.
Others included in the delegation were the Registrar/CEO of NICA, Prof. Chris Onalo; Council Member, Mrs. Eunice Oghomwen Sampson; Vice Chairman of the Establishment Committee, Dr. Mrs. Mojisola Opebiyi; Rapporteur General, Membership & Subscription Committee, Mr. Abiodun Jayson Ajiola; and NICA Staff, Franklin Onoben.
In his remarks, Maduka recalled his longstanding acquaintance with Onalo, saying it spans over two decades.
He praised the NICA Registrar/CEO’s resilience and vision, noting that NICA’s growth, its chartered status, and recognition by the government are a testament to his unwavering dedication.
He expressed his gratitude for the award, acknowledging the instrumental role credit has played in the operations of the Coscharis Group over the decades.
He pledged to subscribe as a member of the institute, underscoring the vital importance of credit in business sustainability.
Maduka advised young entrepreneurs not to focus solely on cash but to understand that money is merely an exchange of value.
According to him, true wealth is built on credibility, credible relationships, integrity, character, and competence.
“If anyone has cash without these fundamental pillars, it is as good as stolen wealth,” he stated.
In his speech, Idowu elaborated on the institute’s key initiatives, including its advocacy for a Social Security Number-style credit system, collaboration with credit rating agencies, and efforts to institutionalise credit management education at undergraduate and postgraduate levels in Nigerian universities.
On his part, Onalo introduced the upcoming Nigerian Credit Economic Forum, which is being developed in collaboration with the Office of the Vice President.
