The National Institute of Credit Administration of Nigeria emphasizes the transformative impact of improved access to credit on entrepreneurship and economic growth.
CEO Prof. Chris Onalo highlights the need to transition from cash transactions to a credit-based economy to unleash Nigeria’s vast potential. He stresses that a credit-based system offers equal opportunities for entrepreneurship and personal development, enabling individuals to invest and grow beyond fixed incomes.
Onalo underscores the importance of supporting small and medium enterprises (SMEs) with access to credit, emphasizing government intervention to provide collateral security and boost economic sustainability.
NICA commits to addressing human needs and supporting government economic policies, advocating for integrity and reliability in economic affairs. As a regulatory body, NICA aims to facilitate the shift from a cash-based to a credit-centric economy, aligning with the government’s vision for economic transformation.
Through partnerships with the government, NICA aims to drive economic development and reshape Nigeria’s economic landscape for a prosperous future.