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The Chartered Risk Management Institute of Nigeria (CRMI) is set to mark its 25th anniversary with a two-day international conference in Lagos, bringing together policymakers, regulators, corporate leaders, academics and students to examine how effective risk management can give organisations a competitive edge.
The 25th Annual International Conference and Silver Jubilee Celebration, scheduled for 14 and 15 October at the Oriental Hotel, Victoria Island, Lagos, will feature the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, as Special Guest of Honour, while the Managing Director of the Ministry of Finance Incorporated, Dr Armstrong Ume Takang, is expected to deliver the keynote address.
According to a statement signed by the Registrar and Chief Executive Officer of CRMI, Mr Victor Olannye, the conference will focus on the theme of building a “resilience edge” through strategic risk management.
President and Chairman of the Governing Council of CRMI, Kevin Ugwuoke, said the role of risk management had changed significantly over the past 25 years, from being largely regarded as a back-office function to becoming a boardroom priority.
“Twenty-five years ago, risk management in Nigeria was a back-office function that few boards discussed. Today it sits in the boardroom,” Ugwuoke said.
He added that the critical question was no longer whether organisations managed risk, but whether they could turn risk management capabilities into an advantage. “That is what we mean by the resilience edge,” he said.
The institute said the conference was coming at a time Nigerian businesses and institutions were contending with economic reforms, technological disruptions, changing regulatory requirements, climate-related pressures and increasing cyber threats.
It said the two-day programme would feature plenary sessions, panel discussions and technical workshops focusing on how boards and management could anticipate disruptions, adapt strategies and recover from shocks while maintaining competitive advantage.
A major highlight of the anniversary conference is the maiden University Risk Management Challenge, designed to expose undergraduate students to real-world risk management issues.
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The competition will see teams from Nigerian universities analyse a practical risk scenario and present their findings and proposed solutions to a panel of experienced practitioners.
The winning participants are expected to receive financial grants, academic recognition and professional development opportunities.
Ugwuoke said the initiative was aimed at preparing the next generation of risk management professionals.
“The profession’s next twenty-five years will be built by people who are undergraduates today,” he said, adding that CRMI wanted to engage emerging talents “before the job market does.”
The conference will culminate in a 25th Anniversary Award and Dinner Night on 15 October, where individuals and organisations that have contributed to the advancement of risk management practice in Nigeria will be honoured.
Award categories include Institutional Leadership in Risk Advocacy, Human Capacity Development in Risk Management, Risk Regulation Excellence, Chief Risk Officer of the Year, Digital and Cyber Risk Management Excellence, Young Risk Professional of the Year, and Excellence in Security Risk Management and National Security.
CRMI said the awards were intended to promote best practices and establish benchmarks for corporate resilience, regulatory compliance and national security preparedness.
The institute said representatives of risk management bodies across Africa, international development partners and other stakeholders were expected at the event.
