The Federal Government has set up a committee to check, assess and manage the various risks confronting the country as announced by Managing Director/Chief Executive Officer of the Bank of Industry, Dr Olasupo Olusi during the annual conference of the Chartered Risk Management Institute in Lagos.
At the conference, themed ‘Emerging Crisis in Africa: Way Forward,’ Olusi noted that the committee was expected to submit findings within four weeks to the Presidency.
He said, “I am delighted to say that His Excellency, President Bola Tinubu, who understands the importance of risk management and its implications 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 back to him within the next four weeks.”
President/Chairman of Council at CRMI, Dr Ezekiel Oseni who was also present at the event said that the institute had sponsored a risk management bill at the National Assembly, which had already passed its first reading.
While speaking, Oseni said that “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 mandates that every ministry, department, and agency 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,”
There was also the call for the support of the government towards the institute.
