top of page
Search

THE MAKING OF CHARTERED INSTITUTE OF TREASURY MANAGEMENT CITM

**Report: Transition from Institute of Treasury Management to Chartered Institute of Treasury Management**


**Overview**

The Institute of Treasury Management (ITM), originally registered in Nigeria as a *Company Limited by Guarantee (Ltd by Guarantee)*, has transitioned to the **Chartered Institute of Treasury Management (CITM)** following the passage of an Act by the National Assembly and presidential assent. This marks a significant milestone in its evolution and recognition as a statutory professional body.


**Background**

- **Initial Registration**: ITM was established as a professional institute under the *Ltd by Guarantee* structure, commonly used for non-profit organizations. Its mission was to advance treasury management practices, promote professional standards, and build capacity in Nigeria’s financial sector.

- **Legal Upgrade**: The institute pursued legislative recognition to strengthen its regulatory mandate and align with global best practices for chartered professional bodies.


**Transition Process**

- **Legislative Approval**: The National Assembly passed the **Chartered Institute of Treasury Management Act**, formally recognizing CITM as the sole professional body for treasury management in Nigeria.

- **Presidential Assent**: The Act was signed into law by the President of Nigeria, granting CITM statutory authority to regulate, certify, and set ethical standards for practitioners.


**Significance of the Name Change**

The transition from *Ltd by Guarantee* to a **Chartered Institute** signifies:

1. **Enhanced Credibility**: CITM now operates under legal backing, elevating its status as Nigeria’s apex body for treasury management.

2. **Regulatory Authority**: The institute can now accredit professionals, enforce compliance, and drive policy advocacy in treasury and risk management.

3. **Global Alignment**: The “Chartered” designation aligns CITM with internationally recognized professional bodies, fostering cross-border collaboration and recognition.


**Benefits for Stakeholders**

- **Partners & Collaborators**: Associations with CITM carry increased prestige, reflecting alignment with a government-recognized institution.

- **Professionals**: Certifications and training programs under CITM gain statutory validity, enhancing career prospects for members.

- **Public Trust**: Strengthened governance frameworks ensure ethical practices, boosting confidence in Nigeria’s financial ecosystem.


**Implications for Online Partners**

- **Reputation**: Collaborations with CITM now leverage its chartered status, attracting a broader audience and enhancing program credibility.

- **Opportunities**: Partners can engage in CITM-led initiatives, such as accredited training, research, and policy dialogues, with greater impact.


**Conclusion**

The rebranding to **Chartered Institute of Treasury Management** underscores Nigeria’s commitment to institutionalizing excellence in treasury management. This transformation empowers CITM to lead sectoral reforms, ensuring Nigerian professionals meet global standards. Online partners are encouraged to leverage this upgraded status for enhanced visibility and impact in financial capacity-building initiatives.


---

For further inquiries or partnership opportunities, kindly contact the CITM Secretariat.

6 views0 comments

Recent Posts

See All

Comments


bottom of page