Nigeria: Risk Managers Say Nigeria At Risk Without Identity Of Citizens/Foreigners

Risk managers have observed the palpable risks posed to national security in Nigeria as a result of the lack or insufficient means of national identification of millions of Nigerian citizens, as well as foreign nationals domiciled in the country.

Delegates at the recent Risk Managers Society of Nigeria (Rimson) annual conference, said the risks posed by unregistered people “underscored the imperative for a centralised identification database of all people resident in Nigeria, anchored on a National Social Security Scheme”.

At the event, themed ‘Risk Management and the Changing Global Paradigms’, they also called for risk managers to play a pivotal role in every government institution in Nigeria and added that the creation of such positions should be manned by qualified and certified risk managers.

Rimson President Jacob Adeosun commented: “The entire national budgeting process should be reviewed in such a way as to incorporate risk management concepts, focusing on the ultimate goals of the budgeting process and ensuring that necessary steps are taken to mitigate likely deviations and/or lacklustre implementations from the onset.”

The risk managers attending the event also highlighted the global cyber threat and the need for a central governmental agency to address existing and emerging cyber threats, and to mandate all regulators to create a framework for identification and mitigation of the risks.

“As a result of the magnitude of cyber risk, Rimson appeals to the Nigerian insurance industry to develop and market products that would help Nigerians to protect their cyber infrastructure and the attendant risks,” said Mr Adeosun.

Delegates also agreed there is a need for technology-driven disaster management machinery, as well as regular meetings of the stakeholders to enhance better and more effective coordination and collaboration in the event of a disaster and to forestall a conflict of duties and responsibilities among various bodies.

Rimson members had praise for the federal government’s whistleblower policy and urged the government to come up with an act to back the policy.

Other issues on the agenda included a call to government to strengthen the preventive healthcare policies and the health management system and that, in view of the growing importance of risk management, the Ministry of Education should include risk management in the education curriculum, making it necessary for schools in the country to assist in the identification of threats and opportunities.

“The time has come to have a radical reformation of our educational system in line with modern reality as most of the graduates cannot meet the current expectations of potential employers. More so that these graduates are not equipped with modern-day soft skills,” said Mr Adeosun.

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