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FG Unveils Committee to Advance Risk Management in Nigeria

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To bolster Nigeria’s approach to risk management, the Federal Government has inaugurated a new committee dedicated to evaluating and addressing various national risks.

The announcement was made by the Managing Director and Chief Executive Officer of the Bank of Industry, Dr. Olasupo Olusi, during the Chartered Risk Management Institute (CRMI) annual conference held in Lagos on Thursday.

Dr. Olusi, who was honoured with an honorary fellowship at the event, revealed that the committee is tasked with presenting its findings to the presidency within four weeks. The initiative reflects the government’s commitment to enhancing risk management practices and mitigating potential financial and operational vulnerabilities.

The CRMI conference also featured the presentation of its inaugural Honorary Fellowship Awards. This year’s honorees included- Dr. Kadir Obafemi Hamzat, Deputy Governor of Lagos State; Dr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN); Dr. Zaccheus Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS); Dr. Emomotimi Agama, Director General of the Meteorological Agency (NiMet); and Dr. Lamido Yuguda, Director General of the Securities and Exchange Commission (SEC).

Additional awards were given to Dr. Adaora Umeoji, Group Managing Director of Zenith Bank; Dr. Roosevelt Ogbonna, Managing Director/CEO of Access Bank; and Dr. Nneka Oyeali-Ikpe, Managing Director/CEO of Fidelity Bank.

A significant highlight of the conference was the signing of a Memorandum of Understanding (MOU) to form the Federation of African Risk Management Associations (FARMA). The MOU was endorsed by representatives from South Africa, Côte d’Ivoire, Morocco, Senegal, Benin Republic, and Kenya.

Dr. Olusi praised President Bola Tinubu for his support, stating, “President Tinubu understands the critical importance of effective risk management for our economy and has charged us with improving our approach to credit risks. We are expected to report our progress within the next four weeks.”

Dr. Ezekiel Oseni, President and Chairman of Council at CRMI, provided an update on legislative developments, noting that the Institute is sponsoring a risk management bill currently under review in the National Assembly.

The bill, which has passed its first reading, aims to establish mandatory risk management functions across all Ministries, Departments, and Agencies (MDAs).

Dr. Oseni highlighted the importance of governmental support for these initiatives, stating, “Our efforts are vital for enhancing economic resilience, and it is crucial that the government continues to back these initiatives.”

He also called on African governments, the African Union, and multilateral organizations like AfDB and Afrexim to support the newly established FARMA.

“We commend the efforts of those working towards establishing a rating agency for Africa and call for broader support for this significant initiative,” Dr. Oseni added.

Dr. Kadri Obafemi Hamzat, Deputy Governor of Lagos State, delivered a keynote address emphasizing the need for comprehensive risk management from a governance perspective.

He highlighted the impact of insecurity and technological advancements on societal stability and economic growth.

“Insecurity has caused significant turmoil and displacement, requiring decisive government action to ensure safety and uphold sovereign integrity,” Dr. Hamzat noted.

He also stressed the importance of legislating for data protection and addressing the risks associated with Artificial Intelligence (AI) and robotics.

Dr. Hamzat concluded by acknowledging the role of the CRMI in advancing transparency and accountability through risk management education and practices.

The conference marked a pivotal moment for Nigeria’s approach to risk management, underscoring both national and regional commitments to enhancing risk assessment and response mechanisms.

 


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Reps Propose N3,500 Daily Wage for Unskilled Labour

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House of Representatives is considering a bill seeking to promote sustainable rural development, reduce poverty, and enhance the livelihoods of Nigerians living in agrarian communities.

Reps Propose N3,500 Daily Wage for Unskilled Labour

Titled “The National Integrated Rural Development Bill, 2025,” the proposed legislation aims to provide wage employment opportunities for unskilled labourers in rural areas, guaranteeing a daily wage of N3,500 for every employed adult household member.

Sponsored by Hon. Marcus Onobun, member representing Esan Central/Esan West/Igueben Federal Constituency of Edo State, the bill, which is awaiting its second reading on the floor of the Green Chamber, seeks to establish a legal and institutional framework to promote sustainable development across Nigeria’s rural regions.

The proposed law applies to all rural areas within Nigeria’s territorial boundaries as defined by relevant demographic and economic criteria.

Part III of the bill provides that every adult household in rural communities who volunteers for unskilled manual work through local development projects shall be guaranteed a minimum of 100 days of paid employment per fiscal year.

“The Agency shall ensure that every rural household, whose adult members volunteer to do unskilled manual work through local development projects, is guaranteed a minimum of 100 days of wage employment per fiscal year,” the bill states.

“Every employed adult household shall be entitled to a daily wage of N3,500 for each day of work.”

The legislation also proposes the creation of the National Integrated Rural Development Agency, which will oversee and coordinate the implementation of rural development programmes across the country. The Agency’s responsibilities will include monitoring and evaluating projects, promoting innovation and technology adoption, and facilitating collaboration among relevant ministries and stakeholders.

In a bid to ensure inclusivity, one-third of the employment opportunities under the proposed scheme will be reserved for women in rural communities.

The bill further outlines objectives such as reducing rural poverty, improving agricultural productivity, ensuring food security, and enhancing access to education, healthcare, and other essential social services.

The proposed law also recommends the establishment of a Governing Council for the Agency, with its Chairman to be appointed by the President on the recommendation of the Minister of Agriculture and Food Security.

Additionally, all revenues generated by the Agency will be exempted from income tax, while contributions to its fund will be tax-deductible.

Speaking on the significance of the bill, Hon. Onobun said it seeks to tackle one of Nigeria’s most persistent socio-economic challenges rural poverty.

“This bill aims to promote sustainable rural development across the nation by reducing poverty, improving infrastructure, and enhancing livelihoods through integrated and coordinated efforts,” he said.

Despite Nigeria’s vast natural and human resources, the country continues to struggle with widespread rural underdevelopment.

According to the National Bureau of Statistics (NBS) and the United Nations Development Programme (UNDP), about 63% of Nigerians roughly 133 million people were classified as multidimensionally poor as of 2024, with the highest rates recorded in the northern regions and conflict-prone parts of the Middle Belt.


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Ndukwe Kalu Foundation 2025 COSPRA Summit Focuses on Empowering Digital Citizens, Building a Safer Online Generation

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The Ndukwe Kalu Foundation (NKF) has announced the much-anticipated 2025 edition of its flagship Child Online Safety Protection and Reporting of Abuse (COSPRA) Summit, themed “Empowering Digital Citizens: Building a Safer Online Generation.”

This groundbreaking summit, proudly sponsored by the Nigeria Internet Registration Association (NiRA), will unite Nigeria’s leading voices in technology, education, and child protection to address one of the most urgent challenges of our time — creating a safer digital space for children and young people.

With key implementing partners and co-sponsors: including the Nigerian Communications Commission (NCC), National Information Technology Development Agency (NITDA), Internet Society (ISOC), National Agency for the Prohibition of Trafficking in Persons (NAPTIP), and the Lagos State Education Board, COSPRA 2025 is set to spark a national movement toward responsible digital citizenship.

According to Ms. Erica Okibe, Executive Secretary of the Ndukwe Kalu Foundation: “COSPRA isn’t just another summit — it’s a clarion call to action. We are uniting institutions, parents, and digital stakeholders to empower our young people to thrive safely and responsibly in the online world.”

Now in its flagship phase, COSPRA has become a rallying point for government agencies, educators, innovators, and advocates working to combat online abuse, misinformation, and child exploitation. The 2025 edition will feature interactive panels, policy dialogues, youth innovation showcases, and a national pledge for child online safety and is scheduled to hold on the 20th of November, at the Afe Babalola Hall at the University of Lagos.

As Nigeria’s digital space continues to expand, COSPRA stands as a bold reminder that protecting children online is not optional — it’s essential.


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No Federal Character Breach in 2025 NCC Promotions — NCSCN

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National Civil Society Council of Nigeria (NCSCN) has cleared the Nigerian Communications Commission (NCC) of allegations of bias and victimization in its 2025 staff promotion exercise, describing the controversy as a product of misinformation and internal sabotage.

No Federal Character Breach in 2025 NCC Promotions — NCSCN

In a statement issued over the weekend, Blessing Akinlosotu, executive director of the Council, said findings from the Council’s independent inquiry revealed that the NCC’s promotional examination under the leadership of Dr. Aminu Maida, executive vice chairman, was conducted strictly in line with Public Service Rules and established institutional procedures.

Akinlosotu said the Council was compelled to intervene following multiple petitions and media reports alleging irregularities, marginalization, and breach of federal character in the promotion process.

According to him, the NCSCN launched an extensive fact-finding mission, held sessions with management, and engaged some of the aggrieved staff before arriving at its conclusion.

The NCSCN noted that while some staff passed the exams but were not promoted due to manpower limits, the Commission followed a clear and objective scoring framework.

Akinlosotu added that participants were provided with performance summaries and encouraged to seek clarification through proper internal channels.

He disclosed that the Council’s review team found no grievous breach of fairness, adding that no human endeavor can be absolutely perfect.

He further explained that the team observed minor administrative lapses which the NCC had since acknowledged and apologized for through its Human Capital Department.

On the performance of the NCC’s new leadership, the Council commended Maida for what it termed as a visionary and transparent approach to regulation, noting significant improvements in accountability and consumer protection since his assumption of office.

The NCSCN, however, cautioned staff members fueling discontent within the Commission, describing them as “internal saboteurs” bent on tarnishing the image of the organisation.

It warned that the Council would not hesitate to expose such individuals if they continued to spread falsehoods.

The Council also appealed to the media to avoid sensationalism in reporting sensitive institutional matters, urging journalists to uphold professionalism and factual reporting in the public interest.

“Our investigation found that the promotional examination was conducted transparently, with panels drawn from all six geopolitical zones and the Federal Character Commission providing oversight. We discovered no evidence of deliberate marginalization or victimization.

“The current leadership has demonstrated an impressive commitment to transparency, innovation, and service improvement in the telecommunications sector.

“We call on all aggrieved staff to explore internal mechanisms for redress instead of embarking on campaigns of calumny against a performing leadership,” the statement read in parts”, Akinlosotu stated.


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