Credit experts advise Nigerians to embrace credit management

By Abdul Olalekan

Credit experts have advised Nigerians, especially the young ones, to start a career in credit management as the future of the country is a credit-based economy.

Believing that effective credit management is vital for the working of modern economy, they called on Nigerians and Nigeria to embrace credit management to take the country out of recession.

Speaking on behalf of the credit experts in a statement made available to Business 247 News Online , the Registrar, Institute of Credit of Administration of Nigeria (ICA), Professor Chris Onalo, said credit is the oil on the wheel of trade, industry and investment which helps in the economic prosperity of a country, adding that the control of credit flow and its distribution helps to redistribute and create wealth, giving rise to product and service demands which constitutes a significant proportion of any country’s gross domestic product.

“As we can see in virtually all emerging economies, conscious efforts are being made by governments, particularly Nigeria, to open access to credit for entrepreneurs, market women, new graduates, artisans, and small and medium business owners through policies that encourage the establishment of credit schemes to be sited every nooks and cranny in the country,” he stressed.

This development, he said, commands urgent need for the availability of credit professionals in the system to help manage such upsurge of credit provider institutions.

Added to this is the inevitability of people to quickly shift their career base to credit management, since the profession seriously presents very lucrative opportunities for higher income earning than some other professions that are reeling in dominance in the present day labour market, he advised.

Credit management, he stressed, has remained a full taught career with people specialising in it.  The work involved in credit management, according to him, is best carried out by those who are learned and specialised in credit management exclusively and inclusively, known as Credit Professionals.

He, therefore, urged those involved in the task of credit functions in corporate organisation and whose knowledge background have no credit management bearing to enrol for a study programme in credit management at the Postgraduate School of Credit and Financial Management (PSCFM) whose leaning courses in credit management are fashioned out in partnership with the UK’s premier London, Postgraduate Credit Management College (LPCMC).