Stories by Charles Nwaoguji
The Institute of Credit Administration (ICA) in collaboration with the Lagos State Secretariat of the National Youth Service Corps (NYSC) has commenced a three-month training programme in Basic Credit Analysis for corps members serving in the state.
A letter conveying NYSC’s approval of the programme commended the Institute for the initiative and highlighted the need to boost the skill of fresh graduates to make them more relevant and employable.
ICA Registrar and Chief Executive Officer, Professor Chris Onalo, said the objective of the training programme is to brighten up employability chances of fresh graduates who are on the one-year mandatory national youth service programme.
According to the ICA boss, the graduate training programme in Basic Credit Analysis is a unique and industry-wide accepted skills acquisition programme in credit management which will expose the participants to a wide variety of financial analysis, techniques dealing, ratio and trend analysis, market circumstances analysis, creation of projections as well as detailed analysis of financial statement and cash flows, examination of collateral, appraisal of management and directors reputation, and other sources of repayment as well as credit history, legal and ownership records and management capability.
Explaining the objective of the programme, Professor Onalo said: “In order to support easy employability of university graduates by the labour market, our Institute has developed and instituted Basic Credit Analysis Class (B-CAC) programme that runs for three months. Specialist Certificate Course in Credit Analysis is issued at the end of the programme”.
According to him, the B-CAC programme designed to nurture credit trainees to become team leaders, trainers and certified credit analysts of the future serves as added advantage in employment consideration into credit, banking and finance, accounting, marketing and sales department of organizations.
He explained that the B-CAC programme is designed to contribute to real productivity and efficiency gains, and can transform organization’s credit operation faster than the traditional orientation programme that most organizations run for their new credit control trainees.
He urged Corps members serving in the state to take advantage of the programme adding that with a little investment, a credit workforce trainee could progress from a foundation course to higher specialist knowledge in credit management upon completion of Basic Credit Analysis course.