ORA-22929: invalid or missing directory name

Cause : The required directory name is invalid or missing.

Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts

Specify a valid name.

update : 29-06-2017
ORA-22929

ORA-22929 - invalid or missing directory name
ORA-22929 - invalid or missing directory name

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    Well, the reason for above error is that i have taken the above script from a 11g database and running it on 10g database. 11g has bring some changes in password management. Below code is executed on 11g and user created successfully, which is expected result.