From Akoka to the world: Anurika, Tosin and others raise the bar

In today’s volatile world, risk management isn’t paperwork — it’s survival. This discussion prompted four amazing students who took to the globe the importance of Risk Management from the four walls of their classroom at the pride of the nation’s university seated at the heartbeat of Akoka, Lagos State.

Anurika Udoye, Oluwatosin Morakinyo, Toluwani Tiamiyu and Ayebanengiafa Dick, competing as Team Risk-Transformers have distinguished themselves on a global stage after completing a remarkable seven-month journey through the 2026 Student Risk Management Challenge, co-organised by the Spencer Educational Foundation and the Risk and Insurance Management Society (RIMS).

The team’s journey began in October 2025, when they registered for the competition, a programme that draws student teams from institutions across the world. Over the following months, the team dedicated themselves to rigorous research and analysis, culminating in the submission of their case study report in January 2026.

Their work paid off. On February 7th, 2026, Team Risk-Transformers received official notification that they had been selected among the top 8 teams globally, an elite shortlist chosen from all registered entries based on the quality, depth, and originality of their submitted work.

On May 3rd, 2026, the top 8 teams delivered presentations before a panel of judges at the RISKWORLD conference in Philadelphia, USA, the annual flagship event of RIMS, attended by thousands of risk management professionals, academics, and industry leaders worldwide. These final presentations determined which three teams would be named the overall winners of the challenge.

In a demonstration of extraordinary resilience, Team Risk-Transformers presented their work remotely from Nigeria, unable to attend the Philadelphia event in person due to the prevailing visa restrictions affecting Nigerian travellers. Despite this significant disadvantage, competing without physical presence while peers stood on stage before the judges, the team delivered a compelling and credible presentation that affirmed their place among the best student risk practitioners in the world.

Team Risk-Transformers examined the growing risk of lithium-ion battery fires within waste management operations, using Lakeshore Recycling Systems (LRS) as a case study. With the increasing use of lithium-ion batteries in consumer electronics and electric vehicles, improper disposal has become a major safety concern. When these batteries enter waste streams, they can be damaged during collection and processing, triggering thermal runaway and causing fires, explosions, and toxic gas release.

The report highlighted that lithium-ion batteries are now a leading cause of fires in recycling and waste facilities, posing significant risks to workers, infrastructure, and operational continuity. It emphasised the urgent need for a proactive and structured risk management approach.

The report also demonstrated how these solutions can be applied across multiple industries, including retail, automotive, healthcare, manufacturing, and logistics, showing that lithium-ion battery risk is a cross-sector challenge.
Finally, a financial analysis shows that the proposed strategy is economically viable, requiring an initial investment but generating positive returns through recycling revenues, partnerships, and regulatory incentives. Success is measured through key performance indicators such as reduced fire incidents, increased battery collection, and improved public awareness.

Overall, the report concluded that effective management of lithium-ion battery risks requires a combination of behavioural, technical and regulatory solutions, ensuring both safety and long-term sustainability.

The top three winning teams were announced on May 3, 2026. While Risk-Transformers did not advance to the podium, their achievement in reaching the global final eight, from registration in Lagos to presenting before an international judging panel, stands as a historic milestone for the University of Lagos and a source of immense pride for Nigeria’s Risk Management community.

Team Risk-Transformers expressed deep gratitude to their institution, faculty supervisors and all who supported them across every stage of this journey, and reaffirmed their commitment to excellence in risk management practice.