Vice President, Kashim Shettima has urged African institutions and governments to back indigenous efforts to tackle rising global risks, emphasizing that the continent must take control of its risk landscape through home-grown solutions.
Speaking at the 24th International Conference of the Chartered Risk Management Institute of Nigeria (CRMI) in Lagos, Shettima who was represented by Dr. Nurudeen Zauro, Technical Adviser to the President on Economic and Financial Inclusion called on the African Union (AU), African Development Bank (AfDB), and Afreximbank to support CRMI’s initiatives to confront threats including climate change, cybersecurity, pandemics, terrorism, and disruptive technologies.
“For over two decades, the Institute has been a beacon of foresight, resilience, and preparedness,” Shettima said. “Risk management is not just a profession, it is a discipline of national importance.”
The Vice President highlighted the establishment of the Federation of African Risk Management Associations (FARMA) as a pivotal moment in Africa’s journey to address global threats on its own terms.
He reaffirmed the Federal Government’s commitment to risk mitigation, citing initiatives like the #SheIsIncluded programme launched in January 2025 to boost women’s participation in the economy, and called for stronger early warning systems and financial safety nets for farmers and rural communities.
The conference, themed “Global Risks, Local Solutions,” brought together policymakers, industry leaders, and risk professionals to explore local strategies for tackling complex global threats.
In his keynote address, CRMI President and Governing Council Chairman, Kelvin Ugwuoke, stressed the urgency of designing African-led responses to emerging risks, including those stemming from climate change, AI, food insecurity, and international conflicts.
“We are witnessing risks driven by climate change, cyber threats, Artificial Intelligence, and geopolitical conflicts such as the Russia–Ukraine war, which have direct consequences on food security and economic stability,” Ugwuoke said. “Our mandate is clear: to develop home-grown solutions that help Nigeria and Africa withstand and prosper amid global uncertainties.”
Ugwuoke, who also serves as Executive Director, Risk Management at Fidelity Bank Plc, revealed that a bill is currently before the National Assembly seeking to integrate risk management more deeply into national policy frameworks.
Also speaking at the event, Central Bank of Nigeria Governor Olayemi Cardoso, who was represented by Dr. Blaise Ijebor, Director of Risk Management at the CBN, commended CRMI’s leadership in fostering a culture of risk awareness in Nigeria’s financial sector.
“Global risks do not respect borders. Our reforms are designed to integrate risk awareness into financial planning, ensuring economic stability amid evolving uncertainties,” Ijebor said.
Minister of Finance, Wale Edun, who was represented by Permanent Secretary Raymond Omachi, emphasized the government’s recent policy reforms, such as the removal of fuel subsidies and exchange rate unification as necessary steps to strengthen resilience.
“Risk management is not about predicting the future, but preparing for it,” Omachi noted. “The future will not be defined by the storms we face, but by the solutions we craft together.”
The conference reinforced Nigeria’s growing leadership in risk management, while positioning CRMI as a central platform for innovation and policy advocacy in the field.
About CRMI
The Chartered Risk Management Institute of Nigeria (CRMI) is the national professional body for risk management in Nigeria. Established by Act No. 39 of 2022 and originally founded in 2000, CRMI promotes excellence through its Chartered Risk Manager (CRM) certification, continuing education programs, and industry-wide advocacy. The Institute plays a key role in shaping resilient, risk-aware practices across both public and private sectors in Nigeria and beyond.
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