The appointment of Professor Ezekiel Oseni, the outgoing President and Chairman of the Governing Council of the Chartered Risk Management Institute of Nigeria (CRMI), as the Executive Director, Risk Management, at the newly established National Credit Guarantee Company Limited (NCGC) signifies a pivotal moment in Nigeria’s financial landscape. President Bola Tinubu’s decision underscores a commitment to incorporating robust risk management practices within the national economic agenda, particularly in the crucial area of credit access. Oseni’s extensive experience and leadership within CRMI, the nation’s sole chartered risk management body, positions him ideally to navigate the complexities of the NCGC’s mandate and contribute significantly to its success. This appointment aligns perfectly with President Tinubu’s “Renewed Hope Agenda,” which prioritizes economic growth and stability.
The NCGC, with an initial capitalization of N100 billion, represents a strategic initiative to unlock credit opportunities for individuals and businesses across Nigeria. This institution aims to bridge the gap in access to finance, a critical constraint to economic development. Scheduled to commence full operations on July 1, 2025, the NCGC enjoys strong financial backing from a consortium of key government entities, including the Ministry of Finance Incorporated, the Nigeria Sovereign Investment Authority, the Managing Director of the Bank of Industry, and the Managing Director of the Nigerian Consumer Credit Corporate Corporation. This robust foundation underscores the government’s commitment to ensuring the NCGC’s long-term viability and effectiveness in fulfilling its mandate.
The CRMI, recognizing the strategic significance of Oseni’s appointment, lauds President Tinubu’s decision as a testament to the importance of a risk-based approach to governance and economic development. The Institute views this appointment as a positive step towards strengthening risk management practices across all sectors of the Nigerian economy. The CRMI emphasizes the critical role of risk management in achieving the objectives of the “Renewed Hope Agenda,” particularly in light of the evolving global and local risk landscape. Oseni’s leadership at the NCGC is expected to set a benchmark for risk management practices within government-backed financial institutions, influencing broader adoption of these principles across the Nigerian financial sector.
The convergence of Oseni’s appointment and the establishment of the NCGC aligns seamlessly with the theme of CRMI’s upcoming 24th Annual National Risk Management Conference, “Global Risks, Local Solutions,” scheduled for August 2025 in Lagos. This conference will provide a platform for in-depth discussions on the challenges and opportunities presented by global risks and the development of effective local solutions. The CRMI emphasizes the need for institutionalizing risk management within all government ministries, departments, and agencies (MDAs), advocating for the establishment of dedicated risk management departments. This move, according to the CRMI, would significantly enhance operational efficiency and enable MDAs to effectively implement their mandates and contribute to the realization of the “Renewed Hope Agenda.”
The CRMI, with its unique position as Nigeria’s only chartered risk management institute with global affiliations, stands ready to support the government in developing and implementing best-practice risk management frameworks. The Institute’s expertise and resources are invaluable assets in navigating the complex risk landscape and ensuring the success of initiatives like the NCGC. The CRMI reiterates its commitment to providing ongoing support and guidance to government entities and the private sector in building robust risk management capabilities. This collaborative approach will contribute to strengthening the resilience of both public and private institutions and promoting sustainable economic growth.
Professor Oseni’s appointment to the NCGC marks a significant step towards strengthening risk management practices within Nigeria’s financial system. His leadership, coupled with the strategic establishment of the NCGC, promises to create a more resilient and accessible credit market, fostering economic opportunities for individuals and businesses nationwide. The CRMI’s ongoing commitment to promoting and supporting risk management best practices will further enhance the efficacy of these initiatives and contribute to the overall success of the “Renewed Hope Agenda,” ensuring sustainable economic growth and development for Nigeria. The convergence of these developments establishes a strong foundation for a more robust and secure financial future for the nation.
