By Bashir Mohammed
Kano
Managing director and chief executive officer, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim has said that the NDIC was adopting sustainable banking principles aimed at integrating environmental and social policies into decision making process to mitigate the negative impact of financial institutions’ operations in the communities they operate.
Speaking yesterday on the NDIC special day at the 36th Kano International Trade Fair, Ibrahim stated that the Corporation’s extant laws empowers its Board of Directors to review upwards the coverage limit to reflect the economic realities in the country at any given time adding that depositors with claims above the insured sums were entitled to liquidation dividends.
The NDIC boss, who was represented by the Kano zonal controller, Alhaji Kabiru Sulieman Oniyangi, said the upsurge in the of mobile communication which had recorded a phenomenal attraction of about 120 million subscribers or 70 per cent penetration, had given a glimpse of hope that financial inclusion can be successful in Nigeria.
He, however, stated that the Corporation, in collaboration with the CBN had embarked on various public awareness programmes on financial literacy and financial inclusion with a view to drastically reducing the percentage of Nigerians who have no access to any form of financial services.
Speaking earlier, the president Kano Chamber of Commerce , Mines and Agriculture (KACCIMA), Alhaji Umar Farouk Dansuleka, stressed the need for the wealthy business tycoons to engage the banking sector for the development and safety of their business.
