Buhari signs Risk Mgt Institute bill

Alade Abayomi ADeleke
Alade Abayomi ADeleke
Muhammadu Buhari

The President, Major General Muhammadu Buhari (Ret’d.), has signed the Chartered Risk Management Institute of Nigeria Bill, 2022, into law.


Blueprint reported that the Act has given legal backing to the now defunct Risk Management Association of Nigeria to teach and regulate the practice of risk management in the Institute.


This is authorizing the Chartered Risk Management Institute of Nigeria to control the risk management profession and serve as a professional body for persons seeking to become chartered risk managers in Nigeria.


The new Act, therefore, empowers the institute to do the following:

• determine the standards of knowledge and skills to be attained by persons seeking to be members of the Institute and raise those standards as circumstances may require;

• conduct professional examinations leading to the awards of certificates as may be prescribed by the Institute; establish and maintain a register of members and publish the lists of members amongst others.

• entrench appropriate skill set required to promote the right risk culture in our Private and Public Institutions;

• provide expert opinion and support to public discourse and for making risk informed decisions.

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