By Queen Kunde
The Chartered Risk Management Institute of Nigeria (CRMI) has raised the alarm over a proposed bill before the National Assembly seeking to establish the Chartered Institute of Enterprise Risk Management of Nigeria, describing it as a “needless duplication” that could trigger legal and institutional conflicts.
In a formal submission to the House Committee on Commerce, CRMI’s Registrar, Victor Olannye, argued that the 9th National Assembly had already enacted the Chartered Risk Management Institute of Nigeria Act No. 39 of 2022, which fully governs risk management practice nationwide.
“The proposed bill overlaps with existing law and undermines the integrity of the legislative process,” Olannye warned. He urged lawmakers to reject the measure to preserve coherence within Nigeria’s regulatory framework, commending the Committee for its professionalism and diligence in oversight.
Responding, Hon. Ahmed Munir, Chairman of the House Committee on Commerce, reaffirmed the 10th Assembly’s resolve to promote transparency and inclusivity in lawmaking, noting that all bills under review would undergo robust stakeholder scrutiny.
Munir highlighted that the Committee’s current legislative agenda covers a wide range of economic and regulatory reforms, from professional bodies to climate-resilient commerce and governance amendments aimed at boosting investor confidence.
He lauded President Bola Tinubu’s administration for stabilizing the economy, emphasizing that the next phase must “translate macroeconomic gains into real benefits for citizens” including stronger social protections and relief from inflationary pressures.
The Committee hearings, Munir assured, are designed to capture diverse perspectives and ensure that Parliament remains a “people-centered institution committed to participatory governance and national progress.”