The Lagos State Government has reaffirmed its commitment to strengthening collaboration with chartered professional regulatory bodies like NICA to deepen credit governance, enhance risk management and promote ethical credit practices capable of boosting investor confidence and economic resilience.
The assurance was given recently at the investiture of Mrs. Markie Idowu as President of the National Institute of Credit Administration, NICA, alongside other newly inducted council members.
Representing the Lagos State Governor, the Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, stressed the importance of credit governance in building an enabling economic environment for citizens and businesses.
According to him, responsible credit plays a central role in economic development.
“Credit fuels enterprise, drives expansion, strengthens customer confidence, underpins productivity and enables government to put in place, infrastructure that improves quality of life.
We are creating an environment where responsible credit can empower individuals, businesses and communities,” he said.
Ogunleye congratulated the new president and newly conferred fellows, expressing hope that their tenure would usher in greater innovation, stronger institutional recognition and a more robust credit ecosystem to support Nigeria’s economic transformation.
Earlier, the Registrar and Chief Executive Officer, NICA, Prof. Chris Onalo, described the investiture as a significant milestone in the institute’s institutional journey.
He reaffirmed the administration’s commitment to promoting professionalism in credit management and expanding credit literacy among Nigerians.
“Unlike many professional bodies, NICA recognises that credit economy management is the lifeblood of commerce, influencing business, social and economic life.
“By regulating and promoting best practices in credit management, NICA is shaping Nigeria’s economic future,” Onalo said.
He urged the newly conferred fellows to work collectively to strengthen credit literacy and improve creditworthiness across the country.
In her acceptance remarks, the new NICA President, Mrs. Markie Idowu, pledged to lead with integrity, courage and purpose, assuring members of a results-driven administration.
“During my tenure, we will elevate professional standards, deepen credit education, embrace global best practices and reinforce ethical discipline across the industry.
“We will strengthen our institutional voice, expand national impact, invest in the next generation and ensure credit becomes a tool for productivity, opportunity and sustainable growth in Nigeria,” she said.
