Risk managers induct NDIC leaders into board of fellows

In recognition of excellence in risk management, the Chartered Risk Management Institute of Nigeria (CRMI) has admitted four professionals from the Nigerian Deposit Insurance Corporation (NDIC) into its Board of Fellows.

The honourees, celebrated for their expertise, leadership, and unwavering commitment to advancing risk management in Nigeria, were conferred with the Fellow Chartered Risk Manager (FCRM) title.

The newly inducted Fellows are: Umaru Ibrahim, former managing director, NDIC; Bello Hassan, current managing director/CEO, NDIC, M. Ibrahim, executive director, Operations, NDIC, Emily Osuji, executive director, Corporate Services, NDIC.

The conferral of the FCRM designation is in recognition of their remarkable contributions to the evolution of risk management practice in Nigeria. These individuals have played critical roles in strengthening institutional risk governance and promoting professional development in the field.

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During the induction, Ezekiel Oseni, president and chairman of the Governing Council of CRMI, commended the recipients for their consistent support of the Institute’s mission. He noted that their leadership had been instrumental in various milestone achievements, particularly the commencement of the Chartered Risk Manager (CRM) professional certification examination – a flagship credential that has gained significant relevance across industries in Nigeria.

Oseni highlighted that the collaboration between CRMI and NDIC had not only elevated the stature of the Institute but had also positioned Nigeria as a rising force in the global risk management space. Today, CRMI has secured international affiliations with prominent bodies such as the DCRO Institute (USA) and the International Federation of Insurance and Risk Management Associations (IFRIMA). Notably, CRMI also spearheaded the creation of the Federation of African Risk Management Associations (FARMA), where it currently holds the interim presidency.

“These four distinguished professionals, along with the NDIC, have been foundational to CRMI’s progress,” Oseni stated. “Their dedication to risk education and best practices has earned NDIC the recognition of being the Best Institution in Capacity Building in Risk Management for several consecutive years.”

He noted the CRMI’s ongoing advocacy efforts, including urging Government Ministries, Departments, and Agencies (MDAs) to establish dedicated risk management departments, and pushing for legislation mandating all limited and public limited liability companies to include risk management disclosures in their annual financial reports.

Responding, Umaru Ibrahim, lauded CRMI’s strides in professionalising risk management across both public and private sectors. He encouraged the Institute to lend its expertise to national reforms, particularly the ongoing initiative to enhance corporate governance structures within the civil service. He also recommended deeper collaboration between CRMI and other chartered professional bodies, such as the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers of Nigeria (CIBN), to foster a unified approach to enterprise risk governance.

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Speaking further, Hassan applauded the transformative leadership of Oseni and reiterated the Corporation’s commitment to strengthening risk management in Nigeria. He emphasised that the current maturity of the risk management profession in the country does not warrant the proliferation of multiple risk institutes.

Instead, he advocated unified collaboration to project Nigeria’s risk management competence on the global stage. Hassan also reaffirmed NDIC’s unwavering support for CRMI’s initiatives, citing the vital role of risk management in the operations of a deposit insurance system.

“As a deposit insurer, we deeply understand the strategic importance of risk management in maintaining financial system stability. NDIC will continue to support CRMI in entrenching global best practices in risk management education and application,” he said.

The ceremony marks a significant step forward in CRMI’s mission to institutionalise risk management as a cornerstone of corporate governance, public accountability, and financial sector resilience in Nigeria.