The Chartered Risk Management Institute of Nigeria (CRMI) has partnered with the Securities and Exchange Commission (SEC) to train regulated capital market entities on strengthening enterprise risk management (ERM), a move aimed at enhancing governance, transparency, and market resilience.
The training, held on Wednesday, focused on equipping operators with the skills to improve governance structures, embed stronger compliance cultures, and mitigate emerging risks in Nigeria’s financial system.
Speaking at the session, CRMI President Kevin Ugwuoke said the Institute, through its global affiliations, is committed to upholding internationally recognized standards and fostering collaboration across the risk management profession. Represented by the First Vice-President, Eneni Oduwole, Ugwuoke explained that the training, themed “Strengthening Risk Governance and Compliance in the Nigerian Capital Market,” aligns with the recent enactment of the Investment and Securities Act 2025, which requires stronger corporate governance and proactive risk oversight.
“With the evolving regulatory landscape, this engagement supports regulated entities in aligning global best practices with Nigeria’s market realities. Effective risk management is now a strategic necessity, not an optional exercise,” Ugwuoke said.
Executive Commissioner of Operations at SEC, Bola Ajomale, commended CRMI for its contribution to professional development in the financial sector. He emphasized that the Nigerian capital market is becoming increasingly complex due to technological disruption, interconnected markets, and global economic pressures.
“Enterprise-wide risk management is essential for institutional resilience, market integrity, and investor confidence. Our regulatory approach encourages integrated, forward-looking risk frameworks that align strategy, performance, and sustainability,” Ajomale said.
The SEC official also warned against poorly prepared or copied ERM submissions, noting that sanctions could be introduced from 2026 for entities submitting misleading or improperly researched documents.
“The quality of risk frameworks submitted to regulators is critical. Operators must fully understand their systems and ensure their submissions are accurate and authentic,” Ajomale added.
The training session provided a platform for knowledge exchange on emerging risks, capital adequacy, stress testing, and the importance of cultivating a strong risk culture.
The partnership between CRMI and SEC underscores a proactive approach to building a stronger, more resilient capital market in Nigeria. By equipping operators with the knowledge and tools to manage risks effectively, the initiative not only safeguards investor confidence but also empowers financial institutions to operate with transparency, integrity, and strategic foresight. As Nigeria’s capital market continues to evolve, such capacity-building efforts are vital for ensuring sustainable growth, fostering innovation, and positioning the sector as a trusted pillar of the country’s economic development.
