Senate Passes Chartered Risk Management Institute Bill

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Chartered Risk Management Institute of Nigeria is close to being established with the passage by the Senate, on Tuesday, of a bill to provide the legal framework for the body.

When the body is eventually approved by President Muhammadu Buhari, it will provide effective oversight and sharing of Information on risk management matters and tools that promote good practice among members.

The passage of the bill was sequel to the consideration of a report on it by the Committee on Establishment and Public Service.

Senator Orker Jev, in a presentation on behalf of the Committee Chairman, Ibrahim Shekarau, who was absent during plenary, said the Chartered Risk Management Institute, upon its establishment, would regulate, control and manage the risk management profession in Nigeria.

The establishment of the institution would, in no small measure, boost and entrench risk management culture in both public and private sectors, as well as reduce risk factors embedded in everyday life.

According to him, “the establishment of the Chartered Risk Management Institute of Nigeria will improve the overall risk consciousnesusingtion using public education, seminars and workshops.”Fresca

The bill was passed after a clause-by-clause consideration by the Committee of the Whole.