Tinubu establishes committee on risk management in Nigeria

President Bola Ahmed Tinubu has established a committee to review and manage the various risks facing the country.

Managing Director of the Bank of Industry, Dr Olasupo Olusi made this known at the annual conference of the Chartered Risk Management Institute, CRMI in Lagos on Thursday.

He noted that the committee was expected to submit findings within four weeks to the presidency.

According to him, President Tinubu understands the importance of risk management in the country’s economy, the reason for setting up a committee.

“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,” he said.

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On his part, the Chairman of the Council at CRMI, Ezekiel Oseni said the council has put forward legislation at the National Assembly on Risk Management.

He noted that the bill on risk management at the National Assembly has already passed the first reading.

“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 establishe a risk management function”, he said.