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Business News of Tuesday, 4 January 2022

Source: punchng.com

Ecobank, ICA to improve credit practice in Nigeria

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The Managing Director of Ecobank Nigeria, Patrick Akinwuntan, has said the bank will partner with the Institute of Credit Administration to create a reliable and enhanced credit practice in the country.

Akinwuntan said this during an official visit of the ICA management team to the Ecobank Pan African Centre in Lagos, according to a statement.

According to him, Ecobank, as a pan-African financial institution, is at the vanguard of deepening credit culture on the continent.

“Ecobank has a robust risk infrastructure that supports the understanding of customers’ credit behaviour,” he said.

The Registrar and Chief Executive Officer, ICA, Prof. Chris Onalo, described Ecobank as a credible financial organisation.

He said the visit was to solicit collaboration and partnership in the area of capacity building and staff membership, with a view to enhancing credit management and policy advocacy relating to sound credit market system.

Onalo described the ICA as Nigeria’s only nationally recognised professional credit management body, solely dedicated to the provision of micro and macro credit management education, award of specialist qualifications, development of skills and capacity building of people involved in the everyday management of trade, financial, consumer and business credits.He added that a rich credit culture would help to reduce poverty and develop the nation’s economy as more people would be engaged in productive ventures.