FG establishes c’ttee on risk mgt, signs MoU

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.

Olusi, who was honored with an honorary fellowship at the event noted that the committee is expected to submit findings within four weeks to the presidency.

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), Prof. Charles Anosike and Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama.

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Others Awarded were the Group Managing Director 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.

Olusi  said: “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.”

President and Chairman of Council at CRMI, Dr. Ezekiel Oseni, disclosed that the institute had sponsored a risk management bill currently under review in the National Assembly, which has already passed its first reading.

President, Association of Risk Management, Republic of Benin, Agossou Elie Agbazahou, President Association for Corporate Risk and Insurance Management, Casablanca, Morroco, Mohammed Aziz Derj, president, Ivorian Network of Enterprise Risk Management and Insurance, Ivory Coast Sande Fatola, president, Institute of Risk Management, South Africa  Bheki Gutshwa; Founder, Institute of Risk Management, East Africa, Dorothy Maseke and president, Senegalese Risk Management Association, Ibuou Sougoufara were present to sign the MOU.