The Chartered Institute of Loan & Risk Management of Nigeria (ILRM) recently hosted its Seminar and Induction Ceremony in Abuja, under the theme “Increasing Operational Resilience through Business Continuity Management.” The event brought together thought leaders, policymakers, and industry professionals to deliberate on the evolving challenges of financial risk management in a digitized economy.
Central to the discussions was the recognition that as Nigeria’s financial ecosystem rapidly embraces digitalization, institutions must adapt to new realities such as cybersecurity risks, data integrity, and the need for robust continuity frameworks. The seminar focused on equipping professionals with modern knowledge in financial risk management, building resilience in business continuity, and exploring opportunities in digital finance technologies such as blockchain, artificial intelligence, and central bank digital currencies. It also highlighted the importance of sustainable lending practices supported by technology-driven risk assessment and loan management systems.
One of the highlights of the event was the participation of Dr. Chinedu Okeke, a leading strategist in sustainable finance and digital lending systems, who delivered a lecture on “Computer-Based Loan Scheme Implementation: Challenges and Way Forward.” In his presentation, Dr. Okeke examined both the advantages and challenges of digitizing loan processes, addressing issues such as cybersecurity threats, infrastructure gaps, data protection, and user adoption barriers. More importantly, he presented practical frameworks for developing loan systems that are resilient, transparent, and efficient, thereby reducing default rates while expanding access to finance. He stressed the need for legislative clarity, strong governance, and continuous innovation to balance consumer protection with technological advancement.
In addition, the Institute, guided by experts such as Dr. Okeke, introduced new initiatives aimed at educating stakeholders on digital asset management, anti-fraud systems, interoperability in payment solutions, and risk-based approaches to loan scheme deployment. These efforts underscore ILRM’s commitment to strengthening the nation’s financial resilience in the digital era.
Looking ahead, the Institute envisions a financial sector where digital finance is fully mainstreamed, supported by effective policies, modern infrastructure, and strong institutions. Expectations include the nationwide adoption of computer-based loan systems to expand financial inclusion, the development of regulatory frameworks that promote innovation while protecting consumers, greater collaboration between the public and private sectors to drive fintech investment, and enhanced operational resilience across banks and financial institutions to ensure continuity during disruptions.
According to Dr. Okeke, digital finance is not just a passing trend but the future of sustainable financial systems. With proper adoption, Nigeria can unlock entrepreneurship, foster job creation, and broaden economic participation. The Institute’s work therefore carries immense national significance, as a resilient financial system is crucial to sustaining economic growth in the face of global transformation.
The adoption of digital finance in Nigeria offers wide-ranging benefits. It enhances financial inclusion by providing credit access to small businesses and individuals often excluded from traditional banking, lowers transaction costs while improving transparency and trust, drives job creation and economic diversification through entrepreneurial access to credit, and strengthens resilience against systemic shocks that threaten the stability of the economy.
By engaging thought leaders such as Dr. Chinedu Okeke, the Institute of Loan and Risk Management has positioned itself as a driving force in shaping Nigeria’s digital finance agenda. The Seminar and Induction Ceremony demonstrated that the country is taking bold steps toward a digitally driven, resilient, and inclusive financial system. Through expert contributions and forward-looking initiatives, ILRM is helping Nigeria navigate the complexities of digital finance while positioning the nation as a hub for fintech innovation in Africa.
