Chief risk officer first woman as executive director on Dangote board

Chief risk officer first woman as executive director on Dangote board

Chief risk officer first woman as executive director on Dangote board

Dangote Industries Limited has promoted Dr Adenike Fajemirokun to the role of group executive director, president’s office, where she will take on new roles in addition to her current schedule as group chief risk officer. She is the first-ever female executive director of Dangote Group. Olakunle Alake, the COO, is now the group managing director, while management also announced the appointment…

IRM names new training provider for Nigeria

IRM names new training provider for Nigeria

IRM names new training provider for Nigeria

The Institute of Risk Management (IRM) has accredited Risk Management Consulting Limited (RMCIR) as the first licensed Fundamentals of Risk Management (FoRM) training provider in Nigeria. Sanjay Himatsingani, director of training at IRM, said: ‘We are very pleased to be working with RMCIR to deliver this course in Nigeria. Our Fundamentals of Risk Management course is well respected and attracts…

Nigerian market must become more disciplined to provide sustainable support for risk managers

Nigerian market must become more disciplined to provide sustainable support for risk managers

Nigerian market must become more disciplined to provide sustainable support for risk managers

Risk managers are depending more heavily on their brokers as the insurance market turns and premium rates start to rise. But the picture is not uniform across Africa. Markets like Nigeria remain highly competitive and pricing has continued to fall. Yombo Bammeke, CEO at brokers UAIB, said: “We have a market problem. It will take just one big loss for…

Building trust in Nigeria

Building trust in Nigeria

Building trust in Nigeria

Liz Booth discusses how the Nigerian insurance market is working to instil confidence in Africa’s most populous country Developing an insurance market fit for purpose is the aim of many a Nigerian insurer, but it can be easier said than done in a market historically distrusted by many insureds. There are many challenges for the market from aggressively competitive pricing,…

Tinubu named as president of Nigeria-Britain Association

Tinubu named as president of Nigeria-Britain Association

Tinubu named as president of Nigeria-Britain Association

The Nigeria-Britain Association (N-BA) has elected Shola Tinubu as its 49th president, with Stephen Forbes becoming vice-president. According to the immediate former president, Femi Onabolu, the election of the new executives was to sustain the tempo of progress made by the association in promoting relationships between Nigeria and the UK. Mr Onabolu stressed that the association had previously initiated and implemented…

Nigeria rebounding but challenges remain for risk managers

Nigeria rebounding but challenges remain for risk managers

Nigeria rebounding but challenges remain for risk managers

Nigeria’s economy is exiting a painful recession, but challenges still remain that risk managers should be aware of, according to the International Monetary Fund (IMF). It has warned that policy implementation needs to move quickly and comprehensively to facilitate economic recovery and help the country reap its longer-term potential. In its latest economic health check of Sub Saharan Africa’s largest…

Seventy risk managers first to gain certified status in Nigeria

Seventy risk managers first to gain certified status in Nigeria

Seventy risk managers first to gain certified status in Nigeria

The first cohort of 70 members of the Risk Managers Association of Nigeria (Riman) has achieved Certified Risk Manager (CRM) professional status. The group were the first to qualify for the title and received their awards at a special ceremony in Lagos. Victor Olannye, executive secretary of Riman, said the association was delighted with the first wave of inductees and…

Nigerian insurance market needs to tighten up on underwriting discipline

Nigerian insurance market needs to tighten up on underwriting discipline

Nigerian insurance market needs to tighten up on underwriting discipline

Nigerian insurance experts are becoming increasingly concerned that a major loss or two could have serious implications for the whole market, as some players continue to undercut aggressively. Ultimately, say the insurers and brokers, this is bad news for risk managers who are finding insurers challenging claims in a bid to avoid payments and protect their books. Adetola Adegbayi, of…

Nigerians set for more electricity

Nigerians set for more electricity

Nigerians set for more electricity

With some 80% of Nigerians reportedly not having direct access to electricity, the World Bank has approved an investment to the equivalent of $486m for rehabilitation and upgrading of electricity transmission substations and lines.   The measures that will be implemented through 2021 are aimed at improving transparency and service delivery and re-establishing investor confidence in the sector. The investments under…

Shell wins latest Nigerian court case

Shell wins latest Nigerian court case

Shell wins latest Nigerian court case

Oil major Shell has defeated the latest legal bid by thousands of Nigerians to have damages claims over pollution dealt with by the English courts. Last year, a judge in London ruled any compensation actions by two Nigerian communities affected by oil spills would have to be heard in Nigeria. The communities challenged the decision but now that has been dismissed.…

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