• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Tuesday, July 1, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Naira Scarcity Exposes Flaws Of Cash-based Economy – Credit Managers

by Zaka Khaliq
2 years ago
in Business
Naira Scarcity
Share on WhatsAppShare on FacebookShare on XTelegram

The current cash scarcity and its attendant effects has only brought to the fore the flaws of a cash-based economy, hence, the need to, as a matter of urgency, embrace a credit-based economy, credit managers have said. 

Advertisement

The administrators, under the auspices of the National Institute of Credit Administration (NICA), added that, Nigeria’s cash economy is not only crushing but also flashing warning signs of meltdown, stressing that the cash economy has marred the desperate efforts to create and generate jobs for youth group, undermining national wealth creation in diverse forms, and totally exasperated the nation’s agenda for the industrial revolution. 

Standing as a strong opponent, the group, in a statement made available to LEADERSHIP, noted that, the credit economy is a people-oriented system that allows access to different innovative financing opportunities needed for the economic prosperity and development of every nation. 

“Nigeria can no longer wait to adopt a credit-based system of economy. The journey for this transition has commenced. The journey to a credit-based economy involves everyone; from the government at all levels, corporate organisations, and individuals in all professions and specialisations,” it pointed out.

Meanwhile, having gained its charter, the president, NICA, Mr. Andy Ojei has inaugurated seven committees to man the affairs of the institute going forward. 

RELATED

External Reserves Decline $3.5bn In 6 Months

External Reserves Decline $3.5bn In 6 Months

22 minutes ago
Nigeria Suffers Large Drop As OPEC’s April Output Down By 440,000bpd

OPEC Plans Production Increase In August To Regain Market Share

23 minutes ago

NLC Shelves Planned Strike Over Naira Scarcity By 2 Weeks

The committee include: Education, Training and Research Committee; Membership & Subscription Committee; Publication and Events Committee; Government and Corporate Relations Committee; Establishment Committee; Credit Management Accreditation Committee (CMAC) and Economic Innovation & Emerging Industries Committee.

Ojei said, these committees are very key to the successful operation of the National Institute of Credit Administration, noting that,  “as you are all aware, the Federal Government of Nigeria on Tuesday, 16th August 2022 signed into law the National Institute of Credit Administration (NICA) establishment Act No 1018 of 2022 of the National Assembly, making the institute a regulatory and supervisory authority for credit management profession, as well as serving as catalyst for the transition of the economy from cash-based to credit system in Nigeria.” 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


SendShareTweetShare
Previous Post

Court Fails To Stay Execution Of Judgment Against CAC, Registrar

Next Post

Nova Merchant Bank Pledges Support To Women Embracing Technology

Zaka Khaliq

Zaka Khaliq

You May Like

External Reserves Decline $3.5bn In 6 Months
Business

External Reserves Decline $3.5bn In 6 Months

2025/07/01
Nigeria Suffers Large Drop As OPEC’s April Output Down By 440,000bpd
Business

OPEC Plans Production Increase In August To Regain Market Share

2025/07/01
State Of Emergency In Rivers: Way Forward
Business

RMAFC Lauds Tinubu For Signing Tax Reform Bills

2025/07/01
Equities Extend Losses By N345bn
Business

Stock Market Ends June Trading With N11bn Decline

2025/07/01
Nigeria-China Summit: 216 Chinese Investors Target Oil, Agric, ICT, Other Sectors
Business

Nigeria-China Summit: 216 Chinese Investors Target Oil, Agric, ICT, Other Sectors

2025/07/01
New Dangote Deal To Save Nigeria $14.3bn Yearly
Business

Aliko Dangote Foundation’s Free Rice Excites Host Communities

2025/07/01
Leadership Conference advertisement

LATEST

Tinubu Lauds Wike’s Transformational Leadership

Women Cocoa Farmers Seek Gov’t Backing, Inclusion In African Cocoa Agenda 2063

External Reserves Decline $3.5bn In 6 Months

OPEC Plans Production Increase In August To Regain Market Share

RMAFC Lauds Tinubu For Signing Tax Reform Bills

Stock Market Ends June Trading With N11bn Decline

Nigeria-China Summit: 216 Chinese Investors Target Oil, Agric, ICT, Other Sectors

Aliko Dangote Foundation’s Free Rice Excites Host Communities

Neveah Begins Production At New Aluminum, Copper Recycling Plant

Dropp CEO, Ogunkunle, Bags Honorary Doctorate, Global Recognition

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.