NDIC MD

The Nigeria Deposit Insurance Corporation (NDIC) has said it is partnering with the Central Bank of Nigeria (CBN) to proactively address potential risks within the banking system. The Managing Director, NDIC, Mr Bello Hassan made the disclosure at a retreat for lawmakers with the theme, “Deepening Deposit Insurance Knowledge for Effective Legislative Functions.’’ While noting that the Nigerian banking sector had exhibited resilience despite facing economic difficulties, Hassan said that addressing such risks would be through collaboration and enhanced supervision, aiming to maintain a safe and sound banking system in Nigeria. The retreat was aimed at exposing the lawmakers to the NDIC laws, with a view to identifying impediments to the implementation of its mandate as well as brainstorming with the management of the corporation on the way forward. The NDIC MD maintained that various measures are being put in place by the corporation and the CBN to ensure the banking sector remains sound. “NDIC is collaborating with the central bank to supervise these banks and there are a lot of measures that are being put in place to ensure that we heighten our surveillance during this period, to ensure that the quality of the risk assets remains very robust.”

Daily Trust