‘One party system’ in risk management calls for diversified vigilance

In the political sphere, a “One-Party System” is often characterised by a single entity exercising total control, often leading to a lack of competition, suppressed dissent, and a narrowing of perspective. When we transpose this concept into the professional landscape of Risk Management, we encounter a dangerous parallel: the “Institutional one-party system.”

This occurs when an organization, a government agency, or even a nation relies on a singular, monolithic approach to identifying and mitigating risks, ignoring the multifaceted reality of the modern global economy. As we navigate an era defined by volatility, uncertainty, complexity, and ambiguity (VUCA), the “one-party” mindset is no longer just a management flaw—it is a significant risk in itself.

In many organisations, risk management is still treated as a “back-office” function or a single department’s burden. This is the “One Party System” at its worst—where the responsibility for safety, financial stability, and operational continuity rests in a silo. When risk is viewed through only one lens—whether exclusively financial, technical, or political—the “blind spots” created are where the most devastating crises germinate.

A true landscape of risk is diverse. It involves environmental shifts, cyber threats, socio-political upheavals, and psychological factors. To manage these with a singular, rigid methodology is akin to a captain navigating a turbulent sea with a map that only shows the wind, ignoring the rocks beneath the surface and the currents from the side.

One of the hallmarks of a one-party system is the absence of a “vocal opposition” or alternative viewpoints. In risk management, this manifests as “Groupthink.” When leadership teams are surrounded by “yes-men” or when the risk culture of an organisation discourages the reporting of “bad news,” the ecosystem becomes fragile.

History is replete with corporate and national disasters that could have been averted if a “multi-party” approach to risk had been adopted—where dissenting voices were encouraged to challenge the status quo. Resilience is built on the foundation of diversity: diversity of thought, diversity of data, and diversity of mitigation strategies.

As the President of the Risk Managers Society of Nigeria (RIMSON), I have observed that our national landscape requires a shift. We must move away from fragmented, “one-party” sectoral risk management toward a National Integrated Risk Framework.

Nigeria faces unique challenges—from climate-induced disasters like flooding to the complexities of economic inflation and infrastructure vulnerabilities. We cannot afford to have the public sector managing risk in isolation from the private sector. We cannot have the financial industry ignoring the risks inherent in the agricultural or energy sectors.

In this context, the “One Party” we need is a Unified National Risk Culture, but it must be one that thrives on the “Multi-Party” input of professionals across all disciplines.

Eradicating the “One-Party” Mindset to evolve, Nigerian businesses and government institutions must adopt three core pillars:

Democratisation of Risk: Risk management is everyone’s business. From the security guard at the gate to the CEO in the boardroom, every stakeholder must be empowered to identify and report potential threats.

Cognitive Diversity: We must bring sociologists, environmentalists, and technologists into the boardroom alongside accountants and lawyers. A variety of perspectives ensures that risks are seen from 360 degrees.

Continuous Professional Development: Organizations like RIMSON are critical in this regard. By standardizing risk management education, we ensure that the “language” of risk is understood by all, preventing the rise of an elite “party” that holds all the information while the rest of the organization remains in the dark.

The landscape of risk is shifting beneath our feet. The “One-Party System”—characterised by silos, intellectual arrogance, and narrow perspectives—is a relic of a simpler time. Today, the most resilient organisations are those that embrace a “Coalition Government” approach to risk: one where different departments, different expertise, and different viewpoints work in a synchronised but critical harmony.

At RIMSON, we remain committed to championing this evolution. Our goal is to ensure that Nigeria, and indeed Africa, moves toward a sophisticated, inclusive, and vigorous risk management culture. The stakes are too high for anything less.

Dr. Abbas G. Idriss is the President and Chairman of the Governing Board of the Risk Managers Society of Nigeria (RIMSON).

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