The Chartered Risk Management Institute of Nigeria (CRMI) has referred to as for mandatory risk administration reporting by organisations registered in Nigeria and the institution of devoted risk administration models throughout ministries, departments and businesses (MDAs).
The institute mentioned the measures would strengthen institutional resilience, safeguard public belief and promote sustainable nationwide improvement.
Speaking at its twenty fifth anniversary and annual worldwide convention in Lagos, CRMI President, Mr. Kevin Ugwuoke, mentioned dangers have been interconnected and that failure in a single space may unfold throughout a whole organisation.
At the occasion themed ‘The Resilience Edge’, he burdened that figuring out dangers and documenting controls have been now not ample, noting that organisations should have the ability to make sound selections below strain, keep important operations, adapt to altering circumstances and recuperate from disruptions.
Ugwuoke mentioned the institute envisioned a Nigeria the place risk administration prolonged past the banking sector to companies, public establishments and important sectors, together with agriculture, vitality, healthcare, schooling, manufacturing and expertise.
He referred to as on regulators, executives, entrepreneurs, public servants, teachers and college students to collaborate with the institute in advancing skilled risk administration practices.
He described the institute’s chartered standing, conferred below Act No. 39 of 2022, as a serious milestone that additionally imposed a accountability to uphold skilled competence and public belief.
Ugwuoke mentioned CRMI had contributed to discussions on credit score bureaus since 2002 and, in collaboration with the Chartered Institute of Bankers of Nigeria (CIBN), launched the Chartered Risk Manager certification, which is now in its tenth set.
He additionally introduced the graduation of an Executive Risk Management Certification programme in collaboration with Lagos Business School.
Speaking on the convention, the Central Bank of Nigeria’s Director of Risk Management, Dr. Blaise Ijebor, urged risk professionals to evaluate fiscal and financial insurance policies alongside operational and compliance dangers.
He mentioned risk managers should monitor coverage implementation and consider its implications for organisational operations and money circulation.
The keynote speaker and Chairman of the Board of the National Pension Commission (PenCom), Mr. Opeyemi Agbaje, described CRMI’s 25-year journey as a product of imaginative and prescient, perseverance, institution-building and dedication to establishing risk administration as a pillar of sound governance.
Agbaje mentioned resilience concerned anticipating change, absorbing disruptions, adapting successfully and turning challenges into alternatives for sustainable progress.
He famous that financial volatility, geopolitical tensions, technological disruption, cyber threats, climate-related challenges and regulatory modifications continued to check organisations throughout sectors.
According to him, risk administration ought to transcend stopping losses to grow to be a strategic software for shielding worth, encouraging innovation and bettering decision-making.
CRMI’s First Vice-President, Mrs. Eneni Oduwole, mentioned the institute would proceed supporting nationwide improvement by way of risk governance and technique.
She emphasised the necessity for proactive, broad-based risk administration slightly than approaches restricted to risk registers and compliance checklists.
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