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Risk managers seek NEXIM’s support on promotion of AfCFTA

Risk Management Association of Nigeria (RIMAN), a leading body for professional risk management training and practice, is seeking the support of the Nigerian Export-Import Bank (NEXIM) in promoting the African Continental Free Trade Area (AfCFTA).

During a courtesy visit by RIMAN to NEXIM, RIMAN noted that NEXIM is well positioned to play a leading role in the AfCFTA.

RIMAN calls for collaboration with NEXIM to strengthen institutions to benefit from AFTAC. Nigeria corporates are well positioned to take advantage of the leading role from NEXIM, however, this is to be strategically positioned in terms of awareness and capacity.

RIMAN recently signed a partnership with BusinessDay, where it approved 150 digital subscriptions to BusinessDay content.

Magnus Nnoka, president of RIMA, who led his team on a courtesy visit to NEXIM, stressed the benefits of AfCFTA to Nigeria.

“If there is any nation that is positioned to get the benefits of ACFTA, it is Nigeria. We have the banks that have the right balance sheet, we have the Development Finance Institutions (DFIs) that have the right capacity in terms of resources and intellect, we have businesses that cut across Africa and we have the right risk management architecture to support what is going on,” he said.

“Today I see an opportunity for RIMAN to support NEXIM and NEXIM supporting RIMAN to promote this singular project either in terms of capacity across corporate bodies, awareness seminars and all sorts that will benefit Nigeria as a nation,” Nnoka said.

He said NEXIM can also participate more in RIMAN conferences, specifically, its annual international conference, coming up next month.

“I think this is also an opportunity for NEXIM to come on board as a key player in that conference because it is a conference that involves not only Nigerians but we have people participating from outside. It is an opportunity for people to express their opinions and share their own views on a couple of issues, Nnoka said.

RIMAN is also seeking support for Charters status, which bill is under consideration.

“Why we went into partnership with CIBN is because we want the certification that we are going to give to also have a charter stamp. This is a very big project for us and we know at the appropriate time we want to come back and seek your support when we think that very important support is needed to make sure we have this done”.

According to him, the times are challenging and if there is anything that has become more challenging, it is risk management.

“It is going to get more challenging as we move on. The whole idea is to make sure there is a professional body that is there for everybody, for corporate bodies and for Nigerians and that is what we seek to achieve,” RIMAN president said.

In his response, Abba Bello, managing director/CEO, NEXIM, recognised that risk is very important for every organisation. “We have to be aware of what is happening on the global scene,” he said.

He assured RIMAN of NEXIM’s collaboration saying that the bank has recognized its role and will leave up to it.

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