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Experts ask govt to cut spending, address insecurity

Punch Newspapers Sections Nike Popoola and Temiloluwa O’Peters Published 12:18 am Published 12:18 am Players in the Nigerian economy have advised the Federal Government to reduce its unnecessary expenditures, address security and diversify revenue source. They said these measures were relevant to check rising cost of governance and dwindling revenues. The Minister of Finance, Budget and National Planning, Zainab Ahmed, on Monday admitted that the nation’s economy was facing a difficult time. “These are very difficult challenging times because revenues are low and the demand for expenditures are very high understandably because we have to keep intervening to make sure the pandemic is contained as well as the economic impact it has caused,” she said.

RIMAN, CIBN induct 21 risk managers

Speaking at the induction ceremony, the Guest Speaker, MD/CEO of Standard Chartered Bank of Nigeria, Mr Lamin Manjang, said: “the health and economic crisis we have all experienced entails both complexity and rapid change. As business executives, this requires us to both lead and manage effectively at the same time. “For example, between when the lockdown occurred in Nigeria and all our bank branches were closed, we had to make immediate decisions to transition into working from home. “Not all our staff were equipped to work from home, so we had to procure laptops to facilitate staff to be able to work from home. This is an aspect of managing through the crisis.”

RIMAN, CIBN urge organisations to test risk strategies

RIMAN, CIBN urge organisations to test risk strategies The Punch Nike Popoola The Risk Management Association of Nigeria and the Chartered Institute of Bankers of Nigeria have urged organisation to stress test their risk management strategies. They said this during the 4th edition of the induction ceremony of the certified risk managers who qualified in 2020. A statement titled ‘RIMAN/CIBN inducts certified risk managers’, said the bodies commenced Certified Risk Manager professional risk management examinations in April, 2016. It said the first set of CRMs emerged in 2017 and were inducted in 2018, being the first edition of the CRM induction, while the second edition held in 2019; and the third edition in 2020.

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