Olusi, who received an honorary fellowship at the occasion, mentioned that the committee was supposed to provide the Presidency with its findings in four weeks.
“I am happy to announce that His Excellency, President Bola Tinubu, who recognizes the value of risk management and its consequences for our economy overall, has recently established a committee to investigate ways we can better manage risks, particularly credit risks, and he has given us an assignment to report back to him within the next four weeks,” the speaker said.
The conference’s theme, “Emerging Crisis in Africa: Way Forward,” included a speech by Dr. Ezekiel Oseni, CRMI’s president and chairman of the council.
He revealed that the National Assembly had already enacted a risk management bill that the institution had sponsored.
“As I promised last year, one of the institute’s main projects is to sponsor a bill in the National Assembly. The first reading of the bill was previously approved. Every ministry, department, and agency is required by law to set up a risk management function.
“We want a separate risk management department in every ministry and state government. This legislative action is a useful step toward making risk management a cornerstone of Nigerian administration, according to Oseni.
He further stressed the need for government support, adding, “As the institute continues to champion initiatives that enhance the resilience and sustainability of the economy, the government must recognise and back the role that this institute is playing.”
The signing of a Memorandum of Understanding to establish the Federation of African Risk Management Associations was a significant event. The event called on governments, the African Union, and multilateral agencies to support the cause. The Deputy Governor of Lagos State highlighted the need for government to prioritize safety and protect citizens, residents, and investors in the face of insecurity and the growing influence of artificial intelligence and robotics.
The rapid growth of technology has increased sociopolitical participation in governance, ensuring transparency and accountability. The CRMI plays a significant role in disseminating information on risk management. The organization awarded honorary fellowships to various Nigerian officials, including Deputy Governor of Lagos State, Governor of the Central Bank of Nigeria, Executive Chairman of the Federal Inland Revenue Service, Meteorological Agency Director-General, and others.
