NDIC Applauded For Sound Corporate Governance, Financial System Stability
By Sunday Etuka, Abuja
The Nigeria Deposit Insurance Corporation (NDIC) has been commended for its commitment to ethical leadership and sound corporate governance, especially in banking supervision and depositor protection, resulting in the stability of the banking sector and the nation’s financial system.
President and Chairman of Council of the Chartered Institute of Directors (CIoD) Nigeria, Alhaji Tijjani Borodo, gave the commendation during a courtesy visit by the CIoD Governing Council to the Management of the NDIC at the Corporation’s Head Office in Abuja.
A statement on Thursday by the Head, Communication and Public Affairs Department of NDIC, Ms. Hawwau Gambo, said Alhaji Borodo, while commending the Corporation for its notable achievements in bank liquidation and resolution, noted that poor corporate governance has been a major contributing factor to bank failures.
He stated that as the apex professional body for directors in Nigeria, the CIoD has instituted mechanisms and procedures to sanction erring directors found culpable of unethical conduct.
He reaffirmed the Institute’s strong commitment to promoting high standards of governance and leadership across all sectors, including the banking industry.
Alh. Tijjani Borodo described the visit of the Governing Council of the CIoD opportunity to strengthen and sustain the partnership between the Institute and the NDIC, particularly in the area of capacity building through board induction programmes, executive leadership development, and governance training tailored to the specific needs of directors in both the public and private sectors.
In response, the NDIC MD/CE, Mr. Bello Hassan, expressed appreciation to the CIoD leadership in promoting professionalism and corporate accountability.
He emphasized the NDIC’s commitment to depositor protection and financial system stability, stressing that corporate governance is central to the Corporation’s operational mandate and critical in strengthening the integrity and resilience of banks as well as instilling public confidence in the financial system.
Mr. Hassan further reiterated the Corporation’s readiness to sustain its partnership with the Institute in advancing a strong culture of corporate governance among the NDIC’s executive staff and across the broader financial industry.
