ORA-24430: Null values for sqltext and key were specified.
Cause : An attempt was made to call OCIStmtPrepare2 and neither sqltext nor key were specified.
Action - How to fix it : DBA Scripts :: www.high-oracle.com/scripts
Specify valid values for sqltext or key or both.
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.