The Institute of Risk Management (IRM) has signed a group affiliate scheme agreement with Nigeria’s Chartered Institute of Loan and Risk Management (CILRM).
The IRM is the leading global professional body for Enterprise Risk Management and currently has over 600 members across Africa, with active regional groups in Ghana, Kenya and South Africa. The organisation is currently in the process of setting up a group in Nigeria and Zimbabwe.
Legislation dictates that all companies over a certain size must have qualified risk management professionals in place in the region, highlighting the importance of risk management to the success of both organisations and the economy.
The scheme involves the CILRM purchasing 2,500 IRM group affiliate memberships which will then be allocated across the CILRM membership network. This means that the IRM’s counterparts can benefit from demonstrating their commitment to the risk management agenda by being part of a growing global network.
Other membership benefits include events, qualifications, networking and access to online materials.
Dr Ian Livsey, CEO of the IRM, said: “This is an exciting development for both the IRM and the CILRM when it comes to strengthening the risk management profession in Nigeria and for us to work more strategically going forwards.”
Livsey added: “The IRM already had a great footprint in Africa, but this news cements the importance of the developing Nigerian market. We’re keen to progress the risk management profession globally and determined to raise the importance of enterprise risk at Board level.”
Dr Sir Oladipupo A Bailey, president and chairman of the Governing Council of the CILRM, responded: “The signing of the Memorandum of Understanding with the IRM will not only strengthen the working relationship between the two bodies, but will also go a long way towards creating awareness of risk management’s importance for the Nigerian economy, both in the private and public sectors.”
He continued: “This is another milestone achievement for the CILRM and the IRM in terms of growing and developing the profession, especially in the areas of resource enhancement and capacity building.”
*The IRM has recently launched The Big Debate, which is a series of global events, interviews and a survey designed to find out more about the Risk Agenda 2025. Click here https://www.theirm.org/risk-agenda-2025.aspx for details