Wednesday, October 29, 2025
29 C
Lagos

NDIC, CIBN Strengthen Collaboration in Emerging Issues in the Financial Sector

L-R: President/Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Deji Pius Olanrewaju presenting the Institute’s Commendation Plaque to the Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation, (NDIC), Mr. Thomson Oludare Sunday during a courtesy visit at the Corporation’s Head Office in Abuja.

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has called for enhanced collaboration between the Corporation and the Chartered Institute of Bankers of Nigeria (CIBN) in addressing emerging risks and challenges within Nigeria’s banking sector.

The MD/CE made the call during a courtesy visit by the President/Chairman of Council of the CIBN, Prof. Pius Deji Olanrewaju, and members of his executive team to the NDIC Head Office, Abuja.

The NDIC Chief Executive emphasised the need for stronger partnership between both institutions in critical areas such as digital banking, cyber- security, fraud and forgery prevention, and sound risk management.

Mr. Sunday noted that while the phenomena of the emerging issues are on the rise, regulators and operators must come together to proffer solutions which help build a stronger financial ecosystem that withstands the vagaries of the innovations to deliver value to the economy.

While commending the growth of the CIBN as a professional body over the years, and its positive impact on the banking system, the NDIC Boss further called on the Institute to take critical interest in working more closely with regulators to fashion innovative failure resolution strategies that strengthen the overall resilience of the banking sector.

The NDIC boss reiterated the Corporation’s commitment to supporting professional institutions such as the CIBN in developing and implementing programs that foster innovation while maintaining sound risk management frameworks and financial system stability.

President/Chairman of Council of the CIBN, Prof. Pius Deji Olanrewaju congratulated Mr. Sunday on his appointment as Managing Director/Chief Executive of the Corporation. He expressed confidence in the capacity of the MD/CE to uphold the trust reposed in the Corporation by the public based on his sound track record and expertise.

He particularly commended the NDIC for its notable milestone achievements, highlighting the upward review of deposit insurance coverage aimed at strengthening public confidence in the banking system; the deployment of technology to expedite the reimbursement of depositors of the failed Heritage Bank; and the commencement of liquidation dividend payments within one year of the bank’s closure. Prof. Olanrewaju noted that these accomplishments have significantly enhanced depositor and investor confidence in the financial system.

The CIBN President also expressed appreciation to the NDIC for its invaluable contributions and active role as a member of the Institute’s Governing Council, noting that its participation has greatly strengthened the Council’s oversight functions, policy direction, and ethical leadership.

spot_img
spot_img
spot_img

Hot this week

NGX Group Chair, Umaru Kwairanga, Draws Roadmap for Leadership in Nigeria

   Being the remarks by Alhaji (Dr.) Umaru Kwairanga, Group...

NCRIB to Partner State Govts to Drive Insurance Penetration in Nigeria

L-R: Mr. Tope Adaramola, Executive Secretary; Mrs. Ekeoma Ezeibe,...

OPay – From Payment Platform to Lifestyle Ecosystem

By Moses Braimah Out of curiosity, I decided to spend...

Dangote and the Nigeria Refinery Revolution

  Beyond the Monopoly Myths By Moses Braimah When the Dangote...

Anambra Tops 2025 State of States Fiscal Performance Ranking

BudgIT, Nigeria’s leading civic-tech organisation promoting fiscal transparency and...

Topics

Deliver Energy Before The ‘Just Transition’

  By Lamé Verre Fellow of the Energy Institute | Member...

CBN Bars UBA, First Bank, FCMB from Forex Transactions

The Central Bank of Nigeria yesterday barred United...

Global Airlines Financial Monitor: December 2016

The latest round of financial results from Q3...

Visa Holds 1st Fraud Prevention Workshop in West Africa

Visa Inc., a global payments technology company, organized its...

Nigeria, 9 Others Account for 92% of Insurance Premium in Africa

A panel report from the 43rd African Insurance Organisation...

AfDB Urges US to Support Agriculture in Africa

The President of the African Development Bank, Dr. Akinwumi...

Solvency II Has Cost UK Insurers £3bn – Report

UK insurers have spent more than £3 billion implementing...
spot_img

Related Articles

Popular Categories

spot_imgspot_img