The Chartered Risk Management Institute of Nigeria (CRMI), in collaboration with the Securities and Exchange Commission (SEC) has trained regulated capital market entities on strengthening enterprise risk management (ERM). This is part of ongoing efforts to deepen investor confidence, enhance transparency, and reinforce proactive risk oversight across the Nigerian capital market.
Speaking at the session, Kevin Ugwuoke, president, CRMI, said the Institute, through its affiliations with IFRIMA and FARMA, remains committed to upholding internationally recognised standards and advancing collaboration across the risk management profession. He commended the SEC for its sustained partnership and dedication to building a risk-sensitive and transparent market environment.
Ugwuoke who was represented by Eneni Oduwole, first vice president of CRMI, noted that insights generated from the training, themed “Strengthening Risk Governance and Compliance in the Nigerian Capital Market,” would support operators in improving governance structures, embedding stronger compliance cultures, and enhancing overall market resilience.
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“With the recent enactment of the Investment and Securities Act (ISA) 2025), our capital market is entering a phase that demands stronger corporate governance, heightened compliance, and more robust enterprise risk management structures. Today’s engagement is therefore designed to support regulated entities in aligning global best practices with Nigeria’s evolving regulatory landscape
He added that CRMI continues to expand its institutional and individual membership base, reaffirming its commitment to promoting sound risk management as a strategic necessity across both public and private sectors.
Also speaking, Bola Ajomale, Executive Commissioner, Operations at SEC commended CRMI for its consistent contribution to strengthening professional standards and risk governance in Nigeria’s financial system.
Ajomale highlighted that the Nigerian capital market is becoming increasingly complex, shaped by innovation, interconnected markets, rapid technological disruption, and global economic uncertainties. In this environment, he said, enterprise-wide risk management is no longer optional.
“ERM is an imperative for institutional resilience, market integrity, and investor confidence,” he said. “Our regulatory philosophy is anchored on proactive supervision, strong risk oversight, and the promotion of sound corporate governance. We expect operators to move beyond compliance-driven approaches and adopt integrated, forward-looking frameworks that align strategy, performance, and sustainability.”
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He added that the session provides a platform for regulators and market operators to share insights on emerging risks, regulatory expectations, capital adequacy, stress testing, and the importance of risk culture. Ajomale reaffirmed the SEC’s commitment to working closely with professional bodies such as CRMI to deepen capacity and strengthen the resilience of the financial ecosystem.
Ajomale, however, cautioned regulated entities against submitting poorly prepared or copied ERM frameworks to the Commission. He warned that sanctions may be introduced from 2026 for entities that submit misleading, improperly researched, or copied documents.
“We observed that some submissions were poorly done or simply copied from other institutions. This is inappropriate. Operators must understand the framework and develop it properly before submitting to the regulator. We think it’s not appropriate and we believe that if they send in false, poorly researched information or information that is just totally misleading, then there will be sanctions for sending that to a regulator, possibly from 2026,” he said.