CBN gives risk management practitioners insight on current threats

Dr. Blaise Ijebor, director of risk management at the Central Bank of Nigeria, has urged risk managers to stay on top of developments that could be dangerous for their company.

During the induction of certified risk managers in 2023, Ijebor made this charge. On Tuesday in Lagos, an occasion saw the induction of 80 professionals.

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He urged them to remain flexible and adaptive so that they could respond to the dynamic nature of their work, but he also urged them to be daring so that they would take on difficulties and seize chances.

In a statement, Ijebor cites a number of important implications for risk management.

He listed them as the proliferation of networked systems, the monetization of data, the militarization of information, changes in the cybersecurity risk environment, and regulatory adjustments.

People criticize the industry’s shifting laws, he added, but they are vital because regulators must effectively manage new technologies in order for the digital economy to benefit from them.

“These days, money is less of a factor in cybercrime. Because the offenders are now engaged in a long-term game of improving their resumes, the cybercrime industry is expanding every day. Therefore, risk managers must adapt new technologies as well as risk management practices.

The president and chairman of the CRMI council, Prof. Ezekiel Oseni, advised the inductees in his opening statement to be well-versed in their sector and to be the one to help solve business problems without putting their careers at risk.

“CRMI is the only chartered risk management institute in Nigeria created by the National Acts of Parliament,” he declared.

“I’ll use this chance to point out that CRMI is the only chartered risk management institute in Nigeria created by National Acts of Parliament.

“Therefore, we caution members of the public and renowned individuals to be careful of organizations that are not accredited by the Act of the National Assembly but that are acting as Chartered Risk Management Institutes and awarding fellowship status to individuals. Additionally, we aim to extend a hand of friendship to organizations and groups involved in risk management who might like to collaborate with CRMI.