The Nigeria Deposit Insurance Corporation, (NDIC), remains steadfast in its mission to protect depositors through sustainable debt recovery processes and collaborate with the Central Bank of Nigeria (CBN) in ensuring the financial stability of the banking sector, Bello Hassan, the MD of NDIC has said
Speaking during the 21st Edition of the NDIC Workshop for Business Editors and the Finance Correspondents Association of Nigeria (FICAN), he said:
“I am particularly delighted to be among this esteemed group of professionals who have consistently shown an unwavering commitment to educating the public on financial matters, especially the critical role of the Nigeria Deposit Insurance Corporation (NDIC) in ensuring the stability of our financial system.
“The theme of this year’s workshop: “Strengthening Nigeria’s Financial Safety-Net – The Role of Deposit Insurance,” is timely and highly relevant, especially in the light of the ever-evolving dynamics of the global financial system and its implications for Nigeria.
“As our financial system continues to evolve and face new challenges, the NDIC remains steadfast in its mission to protect depositors and collaborate with the Central Bank of Nigeria (CBN) in ensuring the stability of the banking sector, which is critical to the growth and development of the economy.
“Over the next two days, we will engage in deep discussions on key aspects of Nigeria’s deposit insurance system, its evolution, innovations and future prospects. This workshop is designed to enrich your understanding of the NDIC’s role in maintaining financial stability and protecting depositors, with presentations covering key issues that shape the Corporation’s activities and consumer protection.
“As you maybe aware, the NDIC was established over three decades ago to protect depositors, especially the most vulnerable, and to contribute to the stability of the financial system. Our core mandate includes providing deposit insurance cover to depositors of licensed banks, supervising insured financial institutions, resolving distressed banks, and ensuring orderly resolution in the event of bank failure.”
