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NDIC raises banks’ risk management, partners ICPC


PHOTO: Wikipedia

The Nigeria Deposit Insurance Corporation (NDIC) has taken up its risk management in banks a notch up, as it has entered into partnership with the Independent Corrupt Practices and other related Offences Commission (ICPC).

The move is also to tighten the regime of zero tolerance for all forms of malpractices within the corporation and in all the initiatives it has taken to fully implement its mandate.

The Managing Director/Chief Executive Officer of the corporation, Umaru Ibrahim, at the inauguration of the re-constituted Anti-Corruption and Transparency Unit (ACTU) of the corporation said the institution would remain at the forefront of the fight against corporate misbehaviours.

The inauguration was presided over by the Acting Chairman of ICPC, Alhaji Abdullahi Bako, who was represented by the Head of Anti-Corruption and Transparency Unit, Justin Kuatsea.

But NDIC Chief Executive stated that based on the corporation’s mandate and supervisory activities, it would continue to fight against corruption through the enforcement of good corporate governance, transparency and accountability to minimise the risk of bank failures, protect depositors and ensure safety and soundness of the financial system.

He described the inauguration of the NDIC’s ACTU as good development that would 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.

Ibrahim further noted that the NDIC has been organising yearly 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.

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ICPCNDICUmaru Ibrahim
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