Nigerian Capital Market Institute Partners with AICPA to Deploy Global Risk Management Standards for Financial Operators

The NCMI and AICPA have launched a risk management partnership in Nigeria using the COSO framework. Learn how this will improve corporate governance and investor trust.

By: AXL Media

Published: Mar 26, 2026, 11:27 AM EDT

Source: The information in this article was sourced from The PUNCH

Aligning Nigeria with International Governance Benchmarks

In a significant move to modernize financial oversight, the Nigerian Capital Market Institute (NCMI)—the educational arm of the Securities and Exchange Commission (SEC)—has finalized a partnership with the American Institute of CPAs (AICPA). Announced in Lagos on Monday, this collaboration is designed to provide Nigerian Capital Market Operators with direct access to premier certificate programs in Internal Control and Enterprise Risk Management. By integrating these global standards, the NCMI aims to shift the domestic market toward a more robust regulatory environment that mirrors the best practices of leading global financial hubs.

Adopting the COSO Framework for Risk Mitigation

Central to this new training initiative is the framework provided by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This framework is the international gold standard for designing and monitoring internal controls to prevent fraud and mismanagement. Tunde Kamali, Managing Director of the NCMI, emphasized that this move is not merely about administrative compliance but about equipping market participants with the strategic foresight necessary to navigate an increasingly technology-driven and volatile economic landscape. The goal is to transform internal controls from bureaucratic hurdles into essential components of business continuity and operational performance.

Enhancing Investor Confidence and Market Integrity

The partnership arrives at a time when transparency and accountability are paramount for attracting foreign direct investment. Ijeoma Anadozie, Country Director for Nigeria at the Association of International Certified Professional Accountants, highlighted that tightening internal controls is vital for the accuracy of financial reporting. By ensuring that Nigerian companies operate with greater integrity, the collaboration seeks to foster a more resilient private sector. Improved financial transparency is expected to translate into higher levels of investor trust, which is critical for the long-term stability and global competitiveness of the Nigerian capital market.