CBN, RIMAN to partner on capacity building

The Central Bank of Nigeria (CBN) through its Banking Supervision Department (DBS) is collaborating with the Risk Managers Association of Nigeria (RIMAN) on capacity building.

RIMAN started over 21 years ago when some banks felt there was a need for sanity around credit. It started as a credit risk management association and today risk has taken a different dimension.

“It is not only for banks today, we have gone beyond banks. We have other players in the industry and economic players who are part and parcel of this association,” Magnus Nnoka, president of RIMAN, who led his team to visit the banking supervision department of the CBN, said.

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Of all the departments in the CBN, he said the DBS relates more with the association and that is why the call was so important.

Nnoka said the association was set out to put a standard around conduct and professionalism in the risk management profession and that is what it does every time. “We are also set out to support institutions, government agencies with our research. We do a lot of capacity building”.

He said the CBN has been one of the institutions the association partners with for capacity building. “We have had a lot of training and we have collaborations with some of the institutions”.

“We try to make sure the regulatory environment, in terms of supporting the CBN and other regulators, is what it should be. That is why RIMAN came to be.”

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He said RIMAN was collaborating with Chartered Institute of Bankers of Nigeria (CIBN) to have a professional certification of risk managers because the association was not yet chartered.

“We have a bill before the National Assembly today and we are aware that other private businesses have been making efforts to get chartered status. You are very important to us on this bill because we know that with your support we are going to get the expected outcome,” Nnoka said.