Economy
Heritage Bank, RIMAN Partner on Risk Management
By Modupe Gbadeyanka
In a bid to achieve and promote global best practices in the implementation of risk management for safer and stronger financial institution, Heritage Bank Plc has entered into strategic partnership with the Risk Management Association of Nigeria (RIMAN).
Speaking recently with newsmen at the first Chief Risk Officer’s time-out/dinner organised by RIMAN, President of the association, Mr Jude Monye, noted that effective risk management implementation requires the combined efforts of institutions to tailor and implement key risk management methods and practices in the economy.
He, however, explained that Heritage Bank chose to support the first Chief Risk Officer’s time-out/dinner because the bank believes in best practices in every aspect of corporate organisation.
According to him, Heritage Bank believes that the process of economic development will remain an illusion without appropriate attention given to risk management and best practices in all spheres of life.
Based on this, Mr Monye commended the risk managers present at event for their commitment to best practices in their respective sectors.
However, he advised the new and young members of the professional body to always ensure they do not jettison standards in their respective offices.
“Whilst thanking you for the kind honour that you have done us by honouring our invitation tonight, I ask you to join us as we expand the frontiers of our activities to instil global best practice in risk management to you. We seek your support and input as we take RIMAN to the next level and by so doing, add value to you and to your organizational ideals, activities and operations,” he said.
Mr Monye pointed out that over the years, RIMAN has accomplished much, ranging from advocacy, capacity building to professional risk management certification – CRM.
In his goodwill address at the forum, the President, Chartered Institute of Bankers of Nigeria (CIBN), Professor Olusegun Ajibola, commended the risk managers for taking the initiative to organise the event, which he said would be used by members to share ideas on how to grow the profession.
Mr Ajibola asserted that risk management is very important to growing any organisation and even aggregate economy; adding that failure to attach importance to it would do the entity more harm than benefit.
He said the Nigerian economy got to the present stage because people failed to acknowledge the importance of risk management to the private and public sectors.
According to him, as long as we fail to accord due importance to risk management, the nation stands to face the consequences.
The CIBN boss therefore advised the risk managers in the country not to play with their integrity for them to succeed in their vanguard of risk management in the country.
Again, he charged the board of each corporate organisation to be actively involved in the campaign for risk management in the country. With them taking the lead, Mr Ajibola assured that crusade would go a long way.
On why risk managers need to do more in Nigeria, the Chairman of Citibank Nigeria, Mr ‘Yemi Cardoso, noted that Nigeria’s economy is currently experiencing difficulties because risk management was not placed at its right place.
“If the risk managers do not get it right, the value of every restructuring effort made would be destroyed”, he stated.
Cardoso declared that money is kept in trust with banks; thus banks have a critical role to play if the nation’s economy would grow.
RIMAN is the foremost, non-profit professional Association of risk management professionals in Nigeria founded in 2000 in response to the gaps that existed in risk management capacity resulting in the banking crisis at the time.
Over time, the focus of RIMAN had shifted from just financial risk to the fact that risks exist in virtually all human endeavours and across all sectors. RIMAN at inception began with institutional membership and as at 2003, individual membership categories were added.
By Aduragbemi Omiyale
The additional shares sold by Morison Industries Plc through private placement have been listed on the Nigerian Exchange (NGX) Limited.
The additional equities were brought to Customs Street last week, according to a circular issued by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai.
The company listed a total of 266,838,125 ordinary shares of 50 Kobo each at N1.50 per unit, amounting to N400.3 million, Business Post reports.
The listing of these new stocks of Morison Industries has increased the fully paid-up shares of the organisation to 1,256,000,000 ordinary shares of 50 Kobo each from 989,161,875 ordinary shares of 50 Kobo each.
“Trading licence holders are hereby notified that additional 266,838,125 ordinary shares of 50 Kobo each of Morison Industries Plc were (on) Tuesday, January 13, 2026, listed on the daily official list of Nigerian Exchange Limited.
The additional shares listed on NGX arose from the company’s private placement of 266,838,125 ordinary shares of 50 Kobo each at N1.50 per share.
“With the listing of the additional shares, the total issued and fully paid-up shares of Morison Industries Plc have now increased from 989,161,875 to 1,256,000,000 ordinary shares of 50 Kobo each,” the disclosure disclosed.
By Adedapo Adesanya
The Chartered Institute of Bankers of Nigeria (CIBN) has projected a single-digit inflation rate for Nigeria at 9.84 per cent in its wider optimistic forecast for this year.
In its 12th National Economic Outlook and Its Implication for Businesses in 2026, the bankers group saw a better metric compared to those of the Central Bank of Nigeria (CBN) and the International Monetary Fund (IMF).
The CBN and the IMF respectively see Nigeria’s economy growing at 4.49 per cent and 4.2 per cent, and the inflation rate dropping to 14.45 per cent and 18 per cent while the foreign reserves rise to N45.78 billion and $43 billion respectively this year.
However, in the outlook presentation by Professor Biodun Adedipe, the CIBN projects a 4.51 per cent GDP growth rate and a 9.84 per cent inflation rate. It forecast the exchange rate stabilizing at N1,420/$1 and the foreign reserves hitting $50.8 billion.
Business Post reports that Professor Adedipe, corporate finance scholar and founder of B. Adedipe Associates Ltd, has been presenting the national economic outlook since 12 years ago, with the firm claiming to initiate the trend in Nigeria, before even the CBN and others caught on with it.
Last week, after a revised approach Nigeria’s headline inflation eased to 15.5 per cent year-on-year in December 2025, down from 17.33 per cent in the preceding month. On a month-on-month basis, headline inflation slowed to 0.54 per cent in December, compared to 1.22 per cent in November.
Ahead of the data release, the National Bureau of Statistics (NBS) had cautioned that the rebasing exercise could result in a temporary “artificial spike” in the December inflation figures.
Mr Adeyemi Adeniran, the statistician-general of the federation, said the adjustment in the reference period, known as the base year, would affect the headline number.
“This artificial spike is a result of the base effect of December 2024, which is equated to 100, following the rebasing exercise,” Mr Adeniran said.
By Dipo Olowookere
Eighty equities appreciated on the floor of the Nigerian Exchange (NGX) Limited last week compared with the 84 equities recorded in the previous week, as 17 equities depreciated versus 22 equities in the preceding week, while 50 equities remained unchanged versus 42 equities of the earlier week.
NCR Nigeria gained 60.79 per cent to finish at N128.55, SCOA Nigeria grew by 59.36 per cent to N14.90, Deap Capital expanded by 48.67 per cent to N4.46, Jaiz Bank soared by 45.73 per cent to N8.19, and Omatek surged by 38.28 per cent to N1.77.
At the other end, Ikeja Hotel lost 12.38 per cent to settle at N35.05, Austin Laz declined by 9.20 per cent to N3.75, Eterna crashed by 7.71 per cent to N32.30, Universal Insurance went down by 7.69 per cent to N1.20, and Eunisell retreated by 7.57 per cent to N156.95.
The bourse remained bullish in the week, with the All-Share Index (ASI) up by 2.36 per cent to 166,129.50, and the market capitalisation up by 2.48 per cent to N106.354 trillion.
Similarly, all other indices finished higher apart from the AFR Div Yield index, which depreciated by 0.15 per cent.
In the five-day trading week, investors traded 4.607 billion shares worth N130.636 billion in 263,439 deals, in contrast to the 4.164 billion shares valued at N94.026 billion transacted in 248,254 deals a week earlier.
Further analysis showed that financial stocks led the activity chart with 3.126 billion units worth N47.225 billion traded in 94,186 deals, contributing 67.84 per cent and 36.15 per cent to the total trading volume and value, respectively.
Services equities followed with 353.436 million units sold for N5.096 billion in 17,764 deals, while ICT shares exchanged 277.263 million equities valued at N18.009 billion in 28,525 deals.
Sovereign Trust Insurance, Access Holdings, and Linkage Assurance were the busiest stocks last week, trading 1.406 billion units valued at N9.735 billion in 11,732 deals, contributing 30.52 per cent and 7.45 per cent to the total trading volume and value apiece.
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