Nigerians laud corporation over strides in financial system and stability

Nigerians laud corporation over strides in financial system and stability

Some prominent Nigerians have commended the Nigeria Deposit Insurance Corporation (NDIC) for its giant strides toward ensuring financial stability in the country since inception.
They gave the commendation in Abuja on Monday at a Public Lecture and Book Presentation to mark the corporation’s 30th anniversary.
Among the prominent Nigerians is the Ooni of Ife, Oba Adeyeye Ogunwusi, who commended the corporation for boosting and sustaining depositors’ confidence throughout the years.
“We look up to the NDIC; they make all depositors to be at peace. We thank them for their support.
“We know that we are not there yet, but gradually, we will get there,” Ogunwusi said.
The Emir of Kazaure, Alhaji Najib Adamu, said that the NDIC supervisors during his banking career were very strict and never compromising which, he said, made banking more widespread and stable.
“During my days in banking, we feared NDIC inspectors more than CBN inspectors because they are never compromising.
“Now that you have stabilised the banking sector, you need to push banks further to be lending to deserving entrepreneurs and businesses.
“NDIC is poised for bigger actions and people have confidence in the corporation,” Adamu said.
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said the corporation had contributed to the enhancement of the country’s revenue base.
Ahmed, represented by the Director, Home Finance, Mr Okon Udom, commended NDIC for being at the forefront of activities that promote financial stability in the country.
Mr Aigboje Aig-Imoukhuede, the Guest Lecturer, said in his paper titled: 'Emerging Risks and Corporate Governance: Issues in Banking’, that corporate governance and risks management could lead to bank failure if not properly managed.
Meanwhile, Alhaji Umaru Ibrahim, the Managing Director of NDIC, assured that the corporation was poised toward doing more to ensure stability in the financial sector.
The News Agency of Nigeria reports that a book titled 'Thirty Years of Deposit Insurance’, written by the corporation was unveiled by the Vice President, Prof. Yemi Osinbajo.
Deposit insurance stakeholders from other African and Asian countries also attended the event.