The Chartered Risk Management Institute of Nigeria (CRMI) recently celebrated a milestone in its mission to advance professional risk management within the country by inducting four senior officials from the Nigerian Deposit Insurance Corporation (NDIC) into its prestigious Board of Fellows. This prestigious recognition underscores the NDIC’s leadership and expertise in risk management, highlighting its integral role in safeguarding the Nigerian financial system. The induction ceremony, a testament to CRMI’s commitment to fostering a robust risk management culture, saw the distinguished honorees conferred with the esteemed Fellow Chartered Risk Manager (FCRM) designation. This accolade not only recognizes their individual contributions but also solidifies the NDIC’s position as a champion of best practices in risk management.
The newly inducted Fellows represent a wealth of experience and leadership within the NDIC. They include Umaru Ibrahim, the former Managing Director, who laid the groundwork for many of the corporation’s risk management initiatives; Bello Hassan, the current Managing Director and Chief Executive Officer, who continues to steer the NDIC towards enhanced risk management practices; Mustapha Ibrahim, Executive Director of Operations, whose expertise ensures the smooth functioning of the corporation’s core activities; and Emily Osuji, Executive Director of Corporate Services, who plays a vital role in supporting the overall strategic direction and operational efficiency of the NDIC. Their collective induction signifies the depth of the NDIC’s commitment to risk management at all levels of leadership.
Ezekiel Oseni, President and Chairman of the Governing Council of CRMI, lauded the inductees for their unwavering dedication to promoting and implementing robust risk management frameworks within the Nigerian financial landscape. He acknowledged their instrumental role in strengthening institutional risk governance and their support in launching the Chartered Risk Manager professional certification examination, a landmark achievement that has gained widespread acceptance across various sectors. This certification, developed in collaboration with the NDIC, serves as a benchmark for professional excellence in risk management, contributing significantly to the development of a skilled and qualified risk management workforce in Nigeria.
The collaborative efforts between CRMI and NDIC have positioned Nigeria as a rising force in the global risk management arena. Oseni emphasized the significance of international collaborations, including affiliations with the DCRO Institute in the United States and the International Federation of Insurance and Risk Management Associations (IFIRMA). These partnerships provide valuable opportunities for knowledge sharing, best practice adoption, and global recognition of Nigerian risk management professionals. The recognition earned through these partnerships further reinforces the value and impact of CRMI and NDIC’s efforts in promoting risk management excellence.
Acknowledging the foundational role played by the NDIC and the inducted Fellows, Oseni highlighted the corporation’s consistent recognition as the Best Institution in Capacity Building in Risk Management, a testament to their sustained commitment to developing and enhancing risk management capabilities. This recognition underscores the NDIC’s dedication to fostering a culture of risk awareness and building the necessary skills and expertise within its workforce, which translates into a more robust and resilient financial system.
In response, Umaru Ibrahim, former NDIC Managing Director, commended CRMI’s efforts in professionalizing risk management across both public and private sectors. He advocated for enhanced collaboration between CRMI and other chartered professional bodies to promote a unified approach to enterprise risk governance. This integrated approach, he argued, is crucial for strengthening risk management frameworks across the economy and fostering a shared understanding of best practices. Ibrahim’s call for collaboration highlights the need for a cohesive and collaborative effort to elevate risk management standards and practices nationwide. Current NDIC Managing Director, Bello Hassan, echoed this sentiment, emphasizing the importance of a unified professional approach to elevate Nigeria’s global standing in risk management. He reiterated the NDIC’s unwavering support for CRMI’s initiatives, recognizing the critical role risk management plays in maintaining financial system stability. Further emphasizing the importance of a proactive approach to risk management, Oseni has advocated for the integration of risk management principles into the governance framework of all levels of government, demonstrating the broad application and critical need for effective risk management across all sectors. This integration would ensure a comprehensive and systematic approach to risk management, strengthening the resilience of government institutions and enhancing their ability to navigate complex challenges.
