President Bola Ahmed Tinubu has set up a committee tasked with assessing and managing the various risks confronting the nation.
The Managing Director of the Bank of Industry, Dr. Olasupo Olusi, announced this development at the annual conference of the Chartered Risk Management Institute (CRMI) in Lagos on Thursday. He stated that the committee is expected to present its findings to the presidency within four weeks.
Dr. Olusi explained that President Tinubu recognizes the significance of effective risk management for Nigeria’s economic stability, which is why he established the committee.
“I am pleased to announce that President Bola Tinubu, who understands the critical role of risk management and its impact on our broader economy, has recently formed a committee to explore better ways to manage risks, including credit risks, and has mandated us to report back within the next four weeks,” Dr. Olusi stated.
In addition, the Chairman of the Council at CRMI, Ezekiel Oseni, highlighted the council’s efforts to advance legislation on risk management in the National Assembly.
He noted that the proposed bill on risk management has already passed its first reading in the National Assembly.
“One of the major initiatives by the institute is sponsoring a bill in the National Assembly, as I committed to last year. The bill has successfully passed its first reading and seeks to require every ministry, department, and agency to establish a risk management function,” Oseni said.
