NDIC vows to ensure transparency in banking sector

By David Agba


The Managing Director, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has said that the Corporation will not go back on its mandate of enforcing good corporate governance, transparency and accountability in the banking sector.
Alhaji Ibrahim made the remark during the inauguration of the re-constituted Anti-Corruption and Transparency Unit (ACTU) of the Corporation in Abuja.
The helmsman of the corporation, who was represented by the Head of Anti-Corruption and Transparency Unit of the Corporation, Mr. Justin Kuatsea noted that its mandate is to minimise the risk of bank failure in order to protect depositors andThesure safety and soundness of the financial system.
According to the Managing Director, it zero tolerance for all forms of malpractices within the Corporation and in all the initiatives it has taken to fulfil its mandate.
The Head, Communication & Public Affairs, Mohammed Kudu Ibrahim, in a statement made available to journalists described the inauguration of the NDIC Anti-Corruption and Transparency Unit (ACTU) as good development as it will further strengthen the Corporation’s resolve and its partnership with other government agencies involved in the anti-corruption fight towards promoting credible and effective service delivery in the public sector.
To that end, Alhaji Ibrahim further noted that the NDIC has been organising annual capacity building seminars for strategic stakeholders such as the ICPC, Economic and Financial Crimes Commission (EFCC), Special Fraud Unit and Nigeria Financial Intelligence Unit of the Nigeria Police Force in the area of financial crime investigation. He also expressed the readiness of NDIC to sustain its participation in the capacity building programmes organised by the ICPC Training Academy.
Responding, the Acting Chairman of ICPC Alh. Abdullahi Bako, said ACTU was created by the ICPC in 2001 in all government agencies to curb corrupt practices and to establish transparent processes and procedures in the public sector. He commended the NDIC for its commitment to transparency and accountability in the discharge of its regulatory responsibilities. He concluded his remarks by expressing the hope that the inauguration of the unit would create synergy for effective collaboration between the two agencies.

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