About

ABOUT ICEN
ICEN FOUNDATION
Until the recent past, it was difficult 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 has forced a good number 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 unbearable trend stirred up a general clarion call by the Director General and Chief Executive Officer to establish a body that would regulate the activities and general conduct of the noble profession.
The Institute of Chartered Economists of Nigeria was established by the companies, and an Allied Matter 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 was established out of a 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 teach professionalism and specialization in the economics profession in Nigeria. Given 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:
i.Monetary economics
ii.Industrial economics
iii.Business economics
iv.Education and welfare economics
v.Economics of International relations
vi.Agricultural economics
vii.Petroleum economics, etc., etc.,……..
ESTABLISHMENT OF ICEN:
ICEN was founded in 1998 in Kaduna, Nigeria, and was established under Act 1, Cap 59 of 1990, and gazetted by the House of Representatives in 2012 and 2024. The Federal Government approval was secured via additional Registration, with approval Number NG/TM/2022/67881 to authenticate its legality and acceptability in Nigeria with the following additional responsibilities:
i.Provision of education to Nigerians.
ii.Provision of training.
iii.Provisions of entertainment.
iv.Sporting and Cultural activities.

The purpose of this new registration is to protect the name, operational activities, and objectives of professional vendors in our society from duplication. No other organization in Nigeria shall have similar names or objectives. We sincerely appreciate our legal teams and the Director General for their wisdom in this matter. The only recognized Institute of Chartered Economists in Nigeria is ICEN. Congratulations to all members for your support; without you, ICEN would not exist. We also want to take this moment to express our appreciation for every board member.
ICEN enjoys the same rights, privileges, and immunities as any other association of similar professional stature. The Institute of Chartered Economists of Nigeria (ICEN) was launched for the first time in Kaduna on August 27, 2002. At that time, the founding membership was just a handful of individuals. However, over the years, our membership has grown significantly. Therefore, if you qualify for membership in ICEN, consider yourself chosen to serve our country and help ICEN achieve its noble objectives.
VISION AND ASPIRATION OF THE INSTITUTE OF CHARTERED ECONOMISTS OF NIGERIA
The founders of ICEN aimed to establish facilities for the training and retraining of professional economists to better serve the Nigerian economy. In light of the Institute’s experiences in recent years and the significant challenges currently facing the economics profession in Nigeria, the council and management are committed to refocusing, restructuring, and revitalizing the Institute to more effectively fulfill its mandate.
The Institute envisions becoming an internationally recognized center for the economics profession, significantly contributing to the development of high-quality professional economists and effectively responding to the country’s economic development needs.
MISSION STATEMENT
The primary mandate of the Institute will continue to align with its established objectives. However, in the near future, the Institute will concentrate more on producing, regularly updating, and enhancing the skills of professional economists essential for the foundational level of the economy. Additionally, the Institute will collaborate with relevant professional organizations to promote a high standard of professionalism among Nigerian economists.
THE PHILOSOPHY OF THE INSTITUTE OF CHARTERED ECONOMISTS OF NIGERIA
The ICEN provides equal opportunities for economists in both developed and developing countries, including Nigeria. It offers professional training for individuals across various fields. However, the entire system faces challenges due to a shortage of resources, both human and material. The Institute addresses these shortages, which traditional institutions often cannot meet. Additionally, it helps align the economic profession with the country’s needs. Therefore, ICEN serves as a valuable option for the training and retraining of professional economists in an economy like Nigeria’s.
WHY BECOMING A PROFESSIONAL ECONOMIST
Education is increasingly becoming an essential commodity that many aspire to attain. The high unemployment rate, combined with a challenging economic climate, often compels individuals in the middle tiers of employment to seek alternative training opportunities to acquire new skills while maintaining their current jobs. The Institute offers a viable option for these individuals by providing professional training that meets their needs while ensuring job security.
Furthermore, knowledge of Economics significantly enhances the performance of managerial duties. Just as Biology is fundamental to the medical profession, Economics is crucial for effective management. When all other qualifications are equal, managers with a solid understanding of Economics can perform their roles more efficiently than those without this knowledge.
The primary responsibility of a business manager is to maximize the firm’s objectives with the limited resources available. Emphasis is placed on both the maximization of objectives and the scarcity of resources. If resources were unlimited, such as sunshine and air, the issue of resource management would not exist. In reality, all resources available to a firm—whether financial, human, or material—are limited. Therefore, the fundamental task of management is to optimize the use of these resources.
The Institute is pleased to welcome you to its programs.
RATIONALE FOR THE PROFESSIONAL MEMBERSHIP
The need to professionalize economics highlights the importance for practicing economists to gain a deeper understanding of their roles. University graduates, whether they are already economists or preparing for economist positions, must receive training to become professional economists. This training is essential for them to adapt effectively to their jobs.

THE OBJECTIVES OF THE ICEN
OBJECTIVES
The objectives of the institute are:
i.To establish an organization with a national and international scope that serves economists, treasurers, and financial officers across both the public and private sectors of Nigeria’s economy.
ii.To unite all Nigerians with local and foreign qualifications who are employed as economists in the public service of the federation.
iii.To promote a professional status that supports and encourages the study and development of both the art and science of economics in public practices, industry, commerce, and various public sectors.
iv.To periodically develop standards in economics and related matters that align with both Nigerian and international benchmarks.
v.To conduct examinations in economics and other relevant subjects and to issue certificates of merit based on the results. Additional awards may also be given as deemed appropriate.
vi.To maintain the highest professional standards by admitting to membership individuals who qualify through examinations and possess relevant practical experience.
vii.To oversee the activities of members and to discipline any member found guilty of professional misconduct.
viii.To organize conferences, workshops, seminars, and symposia to discuss economic matters and responsibilities, present papers and literature, and publish abridged versions of position papers, books, lectures, records, and other memoranda.
ix.To promote a high standard of professional competence through the regular publication of the institute’s journals and the dissemination of knowledge in the field of economics.
x.To practice as economists and advise the government and private sectors on economic matters.
xi.To help regulate and establish standard prices for essential commodities for the benefit of the public.
xii.To establish and maintain a register of Fellows, Associates, Technicians, and Registered Students.
xiii.To provide opportunities for interaction among members of the institute and professional organizations connected to chartered economists, while also protecting their mutual interests.
xiv.To enhance, disseminate, and promote knowledge, education, training, and the exchange of information and ideas on all related questions.
xv.To require all students and graduates of economics to take the professional examination of the Institute in order to achieve higher professional status as chartered economists.

GOVERNMENT APPROVAL DETAILS
Find below the additional scopes of ICEN operations and responsibilities as contained in the Federal Government of Nigeria Approval/Registration No. NG/TM/O/2022/67881, class 41:
i.Education
ii.Providing of training
iii.Entertainment
iv.Sporting & Cultural activities.
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 Access Advanced College of Economics (AACE). This quest resulted in the establishment of the College in Kaduna by the Institute using its popular delivery method of professionalism.

GOOD CORPORATE CONDUCT:
For a global institution like the ICE, which has significant expectations from our stakeholders and members, the way we manage our business is crucial. This is the foundation of good corporate conduct. We believe that our institution should uphold high standards of behavior and integrity. It is essential to demonstrate what a socially responsible institution should be and to promote high standards of corporate social responsibility within professional organizations. We must ensure that our perspectives, along with those of our stakeholders, are considered in the development and implementation of government policies that impact us. Our stance is that professional institutions should have a voice in shaping government policies that affect them.

We believe that our business and activities should be conducted with the highest ethical standards, good corporate governance, and full compliance with the law. It is our responsibility to ensure that our employees, members, students, and stakeholders uphold these high standards of conduct in their duties.

The Institute of Chartered Economists of Nigeria intends to:
i.Set the tone and culture for our Institution to uphold the standards of a good corporate citizen,
ii.Ensure that actions of the ICEN, employees, and members are lawful and in accordance with these standards,
iii.Assist our employees, members, and students to make appropriate judgments and decisions in the course of their work.