The Bill granting ICA Charter Status was passed at its Third Reading on July 29, 2009, by the Nigerian Federal House of Representatives.
The Institute of Credit Administration
With this development, The Institute of Credit Administration is joining the league of Institutes that are established by the Act of Parliament of the country.
Clause 15, section 1 of the Bill on ‘Approval of Qualification’ stipulates that the Institute may approve any institution for the purposes of the Act;
Determines and establish national standards of knowledge, proficiency and achievement in credit management and administration, and provide a means of recognition for those who attain the standards;
The Act stipulates that the Institute shall be the sole body vested with power to oversee the development of credit management profession in Nigeria and maintain discipline on forces normally associated with credit management.
It was on this premise that the Postgraduate School of Credit and Financial Management (PSCFM) sought to get accreditation from ICA to run full credit management taught programmes and award qualifications thereof.