The Ministry of Finance Incorporated (MOFI) and the Chartered Risk Management Institute of Nigeria (CRMI) have signed a landmark Memorandum of Understanding (MoU) to boost risk management capacity across Federal Government portfolio companies.
The signing ceremony, held at MOFI’s headquarters in Abuja, was described as a significant step toward institutionalising risk culture in Nigeria’s public sector enterprises.
According to a statement on Tuesday, the President and Chairman of Council of CRMI, Mr. Kevin Ugwuoke, commended MOFI for its leadership and growing economic impact.
Ugwuoke noted that with an estimated asset value of N18 trillion, more than 15,000 indirect employees, and confirmed shareholding in over 52 entities, MOFI is on course to achieve its ambitious goal of expanding its portfolio to at least N100 trillion within the next decade.
He further applauded the leadership of MOFI’s Managing Director/Chief Executive Officer, Dr. Armstrong Ume Takang, alongside Mrs. Oluwakemi Babalogbon, Executive Director of Risk Management, and Mr. Tajudeen Ahmed, Executive Director of Portfolio Management, for their commitment to embedding robust risk management practices in Nigeria’s public investment space.
The MoU is expected to improve accountability, enhance value creation, and ensure long-term sustainability of government-owned enterprises.
