Senate passes Chartered Risk Management Institute bill

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The Senate on Tuesday passed a bill to provide the legal framework for the establishment of the Chartered Risk Management Institute of Nigeria.

The Red Chamber’s passage of the bill followed consideration of a report by its Settlement and Civil Service Committee.

Senator Orker Jev (PDP Benue North West), in a presentation on behalf of Committee Chair Ibrahim Shekarau (NNPP Kano Central), who was absent during the plenary, said that the Chartered Risk Management Institute, from its inception, would regulate, control and manage the risk management profession in Nigeria.

He said the establishment of the institution would go a long way in stimulating and entrenching the culture of risk management in the public and private sectors, as well as reducing the risk factors embedded in daily life.

“The establishment of the Chartered Risk Management Institute of Nigeria will enhance the nation’s overall risk awareness through public education, seminars and workshops.

“The existence of an accredited risk management institute will ensure effective oversight and sharing of information on risk management issues and tools that promote good practice among members,” he said.

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