The Federal Government has established a committee to assess and manage the various risks confronting the country.
This initiative was announced by the Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, during the annual conference of the Chartered Risk Management Institute (CRMI) in Lagos yesterday.
Olusi, who was honored with an honorary fellowship at the event, noted that the committee is expected to submit finding within four weeks to the presidency.
“I’m delighted to say that His Excellency, President Bola Tinubu, who understands the importance of risk management and implication for our economy at large has recently set up a committee to look into ways we can manage risks, credit risks better and he gave us a mandate to report to him back to him within the next four weeks,” Olusi said.
Also, CRMI gave its first set of Honorary Fellowship Awards to the Deputy Governor of Lagos State, Dr. Kadir Obafemi Hamzat, the Governor of the central Bank of Nigeria (CBN) Dr. Olayemi Cardoso, Executive Chairman Federal Inland Revenue Service (FIRS), Dr. Zaccheus Adedeji, Director General Meteorological Agency (NiMet) and Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama.
Others Awarded were the Group Managing Directo Zenith Bank, Dr. Adaora Umeoji, Managing Director/ Chief Executive Officer Access Bank, Dr. Roosevelt Ogbonna and the Managing Director/ Chief Executive Officer, Fidelity Bank, Dr. Nneka Oyeali-Ikpe.
Another highlight at the event was the signing of the Memorandum of Understanding (MOU) to establish the Federation of African Risk Management Associations (FARMA) with Risk institute heads represented by South Africa, Cote D’Ivoire, Morocco, Senegal, Benin Republic, and Kenya present.
The conference, themed, ‘Emerging Crisis in Africa: Way Forward,’ also featured remarks from Dr. Ezekiel Oseni, President and Chairman of Council at CRMI. He disclosed that the institute had sponsored a risk management bill currently under review in the National Assembly, which has already passed its first reading.
“One of the key initiatives of the Institute is sponsoring a bill at the National Assembly, as I promised last year. The bill has already passed its first reading. This legislation aims to mandate every Ministry, Department, and Agency to establish a risk management function. We envision every ministry and state government having a dedicated risk management department. This legislative move is a practical step towards positioning risk management as a fundamental component of governance in Nigeria,” Oseni said.