The Nigeria Deposit Insurance Corporation’s (NDIC) excellence in operational standards, consistent implementation of its mandate, and unwavering commitment to ethical leadership and sound corporate governance especially in banking supervision and depositor protection, have been critical factor in the Corporation’s success in promoting the stability of the banking sector and the nation’s financial system.
Head, Communication & Public Affairs Department, Ms. Hawwau Gambo, in a statement said the President and Chairman of Council of the Chartered Institute of Directors (CIoD) Nigeria, Alhaji Tijjani Borodo, made these remarks during a courtesy visit by the CIoD Governing Council to the management of the NDIC at the Corporation’s Head Office in Abuja.
While commending the NDIC for its notable achievements in bank liquidation and resolution, he 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.
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.