Nigeria's 2026 Risk Outlook: FX Volatility and Cybersecurity

The Chartered Risk Management Institute Nigeria released a report highlighting foreign exchange volatility and cybersecurity exposure as major threats to Nigeria's economy by 2026. The report, presented by Chairman Kevin Ugwuok, examines risk perceptions across critical sectors, including banking, financial services, oil and gas, manufacturing, and public infrastructure.

It draws on a survey of 260 senior risk professionals, revealing that responses to these risks vary across industries. Despite improvements in macroeconomic indicators, the report indicates a cautious risk sentiment, particularly regarding macroeconomic instability, exchange rate volatility, regulatory policy risks, and persistent cybersecurity threats.

The report stresses that 2026 will not introduce new risks but will test organizations' management of known risks. It calls for stronger alignment between capital allocation and risk appetite, urging organizations to proactively monitor policy developments.

Eyitoyosi Shonibar from the Central Bank of Nigeria emphasized the interconnectedness of Nigeria's risk landscape with global shocks, advocating for enhanced risk governance.