The Nigeria Deposit Insurance Corporation, NDIC, says it remains committed to ensuring that those who contribute to the failure of banks are properly investigated and prosecuted.
Managing Director and Chief Executive of NDIC, Mr. Bello Hassan stated this during a courtesy visit by the NDIC Management to the Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede at the EFCC Headquarters in Abuja.
Mr. Hassan explained that the NDIC plays a critical role in combatting financial crimes within the banking sector through its mandate which includes bank supervision and liquidation of licensed banks.
He explained that the ultimate objective of the NDIC was to protect depositors’ funds and ensure stability of the financial system.
The NDIC boss who commended the EFCC for its relentless efforts in the fight against corruption and financial crimes, emphasized the indispensable role it plays as a key member of the Taskforce on Implementation of the Failed Banks Act which is chaired by the NDIC.
The EFCC Chairman, Mr. Ola Olukoyede in a remark emphasized the interconnection between criminal activities and bank failures, urging NDIC and the Central Bank of Nigeria, CBN, to intensify oversight to prevent the risk of bank failure.
He pledged EFCC’s commitment to deepening collaboration and synergising efforts in combating financial crimes, thereby safeguarding the integrity of Nigeria’s banking sector.
PR/Umbwanko Baba
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