Senate Passes Into Law Chartered Risk
Management Institute Bill
The Senate, on Tuesday, June 21, 2022
passed into law a Bill that seeks to provide the legal framework for the
establishment of the Chartered Risk Management Institute of Nigeria. The
passage of the Bill was sequel to the consideration of its report by the
Committee of the Whole having been presented for consideration by the Committee
on Establishment and Public Service.
Chairman of the Committee Sen. Orker
Jev, presenting the report on behalf of the Committee Chairman, Sen. Ibrahim
Shekarau, said the Chartered Risk Management Institute, upon its establishment,
would regulate, control and manage the risk management profession in Nigeria.
He explained that 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 consciousness of the nation through public education, seminars and
He added that existence of a
Chartered Risk Management Institute will provide effective oversight and
sharing of Information on risk management matters and serve as tool that
promotes good practice among members, he stressed.
The Bill scaled through third reading
and passed after its clause-by-clause consideration by the Committee of the
Dr. Ezrel Tabiowo, FAI, FIMC, CMC, FCP, Fsca
Special Assistant (Press)
To President of the Senate
Tuesday, June 21, 2022.