Until the most recent past, it was absolutely difficult to for economists to identify themselves with any professional body because of the non-existence of an organized and independent professional body to regulate the conduct and activities of the profession. This problem of identification had forced a good numbers of our economists to become marketers, bankers, accountants, or administrators without genuine enthusiasm. The economics profession, which hitherto had an in-built honour and dignity, suddenly turned out to be at the mercy of other professional bodies for acceptance and recognition. This unbeareable trend had stirred up a general clarion call by all professional economists for the need to establish a body that would regulate the activities and general conduct of the noble profession.
The Institute of Chartered Economists of Nigeria (I.C.E.N) was established by the Companies and Allied Matters Act, 1990, had the pioneering statutory rights to regulate the practice of Economics in Nigeria and still has these rights today.
Therefore, The Institute of Chartered Economists of Nigeria (I.C.E.N) was established out of burning desire to promote and encourage the study and development of the art and science of economics in public practice, industries, commerce etc and to inculcate professionalism and specialization in the economics profession in Nigeria. In view of this development, the institute had been mandated by the Act establishing it to regulate the activities of all the different aspects of Economics such as Monetary Economics, Industrial Economics, Business Economics, Educationa and welfare economics, Economics of International relations, Agricultural Economics, Petroleum Economics, etc.
ICEN provides equality of opportunities for economists in both developed, and developing countries like Nigeria. It provides professional training for people working in various walks of life. The entire system is hampered by shortage of resources, both human and material. The Institute helps curb such shortages, which the conventional institutions are unable to meet. It also helps to make the economics profession relevant to the needs of the country.
It is therefore, a viable option in the training and retraining of professional economists in an economy like that of Nigeria.
Why Becoming a Professional Economists?
There is no gainsaying the fact that education is fast becoming an essential commodity that everyone is aspiring to have. High unemployment rate coupled with severe economic crunch often necessitate people at the middle cadre to seek an alternative means of training themselves to acquire more skills while still retaining their jobs. The Institute therefore, serves as a viable option for such category of people because of its capacity to provide them with their professional training needs and at the same time guaranteeing them job security in their work places.
The objectives of the institute are:
To unite all Nigerians holding local and foreign qualifications who are being employed as economists in the public services of the federation, industrial and commercial sectors.
To ensure a professional status necessary to promote and encourage the study and development of the art and science of economics in public practices, industry, commerce and public sectors.
To develop from time to time standards in economics and economic matters which will meet both Nigeria and International standards.
To hold examinations in economics and other subjects relevant to the profession and to issue certificates of merit on the results therefore and to make other awards as desirable.
To ensure the highest professional standard by admitting to membership, persons who qualified through examinations and who have practical experience.
To regulate the activities of the members and discipline any member for professional misconduct.
To hold conferences, workshops, seminars and symposia for discussion on economic matters and duties, presentation of papers, literature, and to issue copies of abridgment of position paper, books, lectures, records and other memoranda.
To instil a high standard of professional ability by means of regular publication of journals of the institute and to disseminate professional economics knowledge.
To practice as economists and to advise the government and the private sectors on economic matters.
To help in regulating and establishing standard prices on essential commodities for the benefits of the public.
The establishment and maintenance of register of Fellows, Associates, Technicians and Registered students.
To provide opportunities for contacts between members of the institute or connected thereto professional organisation for chartered economists and to protect their mutual interest.
To increase, disseminate and promote knowledge, education, training and exchange information and ideas in respect of all questions relating thereto.
To make it mandatory for all students and graduates of economics to write the professional examination of the Institute in order to acquire higher professional status as chartered economists.
As a further step in the provision of professional courses leading to the development and upgrading of professionalism, the Institute has deemed it fit to introduce some professional courses in the college of Economics. This quest resulted in the establishment of the College of Economics in Kaduna by the Institute using its popular delivery method of professionalism.
The goal of the founders of the ICEN was to provide facilities for the training and re-training of professional economists for the Nigerian economy. Given the Institute's experience in past years and the enormous challenges facing economics profession in Nigeria today, the council and management of the Institute are desirous and determined to refocus, restructure and revitalise it, to more effectively fulfill its mandate.
The vision of the Institute and its aspiration for the future is to become an internationally acceptable centre for economics profession that will contribute effectively to the production of professional economists of high quality and respond adequately to the development of the economy.
The basic mandate of the Institute shall remain as detailed in the Institute's objectives. However, the Institute will for the immediate future, be more clearly focused on the production, regular updating and upgrading of professional economists for basic level of the economy. The Institute will collaborate with relevant bodies of professional Institute to promote high level of professionalism among Nigerian economists.
Mission & Vision Statement