No bank is in distress, NDIC assures depositors
The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation, Alhaji Umaru Ibrahim, has called on members of the public to ignore rumours being circulated through text messages and in the social media of financial distress in some banks.
He stated that the aim of the messages was to de-market the banks and destabilise depositors’ confidence in the banking system.
Ibrahim stated these during a courtesy call on the corporation by the executive members of the Alumni Association of the National Institute, Abuja Chapter, led by its Chairman, Bola Balogun.
The NDIC boss said the corporation had over the years played a very critical role in ensuring that banks were safe and sound through effective supervision.
This, he added, was being achieved through financial and technical assistance to deserving financial institutions and adoption of timely failure resolution options to problematic banks.
Ibrahim, according to a statement by the NDIC, informed the AANI executive members that the corporation, since its inception, had continued to closely monitor the challenges affecting the banking industry such as poor corporate governance, insider loans and non-performing loans.
This, he noted, was being done in order to further safeguard depositors’ interest in the banking system.
He said that with the NDIC’s strict supervision and regulation of the banking industry, in collaboration with the Central Bank of Nigeria, depositors should have full confidence in the safety and security of their funds in the licensed banks.
Balogun commended the NDIC for its supervisory role, which he described as an invaluable anchor for the security and stability of the nation’s financial system.