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Oni Tasks Audit Executives on Risk Models Amidst Global Disruptions
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Oluchi Chibuzor
The Chief Executive Officer of Union Bank of Nigeria, Mrs. Yetunde Oni has tasked chief audit executives of banks in Nigeria to embrace risk intelligence models driven with data amidst global economic wave disruptions affecting economies.
This wave, she highlighted, includes cybersecurity incidents that grow in scale and sophistication, heightened regulatory expectations, rising demand for sustainability and transparent governance.
Speaking at the 63rd Quarterly General Meeting of Association of Chief Audit Executives of Banks In Nigeria (ACAEBIN), held in Lagos, she noted that the event themed, ‘Navigating the Next Wave: Audit Resilience Amid Emerging Risk and Regulatory Complexity”, reflects the realities shaping Nigeria’s banking ecosystem and indeed the wider global financial landscape.
She explained that the nation is in a period where multiple waves of disruption intersect stressing macroeconomic pressures that test balance sheets and liquidity and exchange rate volatility that destabilises projections.
She further explained that other factors like expanding digital ecosystems that accelerate innovation but introduce new risk vectors, cybersecurity incidents that grow in scale and sophistication, heightened regulatory expectations, rising demand for sustainability and transparent governance, demands professionalism.
According to her, “We are in a period where multiple waves of disruption intersect: macroeconomic pressures that test balance sheets and liquidity; exchange rate volatility that destabilises projections; expanding digital ecosystems that accelerate innovation but introduce new risk vectors; cybersecurity incidents that grow in scale and sophistication; heightened regulatory expectations; rising demand for sustainability and transparent governance.
“Against this backdrop, your roles as Chief Audit Executives have expanded dramatically. You are now strategic sentinels, key actors in strengthening institutional resilience, ensuring ethical conduct, and safeguarding public confidence in the financial system.”
On her part, the chairperson, ACAEBIN, Aina Amah also echoed that the world is moving faster than ever, testing institutional agility and demanding even greater professional courage.
Amah said across the industry, heightened regulatory expectations around AML/CFT, cybersecurity, data privacy, sustainability, and consumer protection are reshaping the boundaries of accountability.
