The Chartered Risk Management Institute of Nigeria (CRMI) has applauded the appointment of its outgoing President and Chairman of the Governing Council, Professor Ezekiel Oseni, as Executive Director for Risk Management at the newly established National Credit Guarantee Company Limited (NCGC).
The commendation came in a statement issued by the Institute on Sunday and signed by its Registrar/Chief Executive, Victor Olannye. The Institute said the appointment reflects President Bola Ahmed Tinubu’s commitment to integrating risk-based thinking into the implementation of his administration’s Renewed Hope Agenda.
Professor Oseni’s appointment comes just as he prepares to exit his role as president of the CRMI, making the transition a symbolic handover of responsibilities from institute leadership to national service. The CRMI described the appointment as “timely” and “visionary,” considering the increasing complexity of managing economic risks in the country.
President Tinubu had earlier approved the establishment of the NCGC to unlock easier access to credit for individuals and businesses across Nigeria. Backed by a capital base of ₦100 billion, the institution is set to commence full operations on July 1, 2025. The capital is provided by a consortium comprising the Ministry of Finance Incorporated, Nigeria Sovereign Investment Authority, Bank of Industry, and the Nigerian Consumer Credit Corporation.
“The establishment of the NCGC by the Federal Government is a laudable initiative that aligns perfectly with the theme of CRMI’s upcoming 24th Annual National Risk Management Conference, ‘Global Risks, Local Solutions’, scheduled to hold in Lagos in August 2025,” Olannye said.
He added that the appointment of Professor Oseni not only underscores the relevance of risk management in national economic policy but also demonstrates a growing recognition of the need for structured and strategic financial safeguards in public institutions.
The Institute used the occasion to renew its call for the creation of risk management departments across all ministries, departments, and agencies (MDAs) of government. According to CRMI, such departments would improve decision-making, reduce exposure to waste and inefficiency, and enhance the overall delivery of public sector services.
“Such institutionalisation will enhance operational efficiency and support the effective realisation of the Renewed Hope Agenda,” the statement read.
CRMI also reaffirmed its position as Nigeria’s only chartered risk management body with international affiliations, noting that it stands ready to support the Federal Government in mainstreaming global best practices in governance, budgeting, and economic development.
“As the only chartered risk management institute in Nigeria with global affiliations, CRMI is uniquely positioned to support the government with world-class expertise,” Olannye said. “We remain fully prepared and committed to providing best-practice risk management support wherever needed.”
The National Credit Guarantee Company is expected to play a vital role in improving Nigeria’s credit ecosystem by providing guarantees that encourage banks and other lenders to extend credit to micro, small, and medium enterprises (MSMEs), as well as individuals. This is part of broader reforms being implemented by the Tinubu administration to spur economic growth, reduce poverty, and strengthen private sector participation in the economy.
Professor Oseni, a renowned financial economist and risk management expert, brings decades of experience in banking, academia, and public finance to the new role. His leadership at the CRMI is credited with raising the profile of the institute and advocating for the institutionalisation of risk management across key sectors of the Nigerian economy.
