The Nigerian Deposit Insurance Corporation has pledged to continue to work closely with the Central Bank of Nigeria in the supervision of banks to ensure that licensed institutions adhere to sound governance and institute robust risk management and compliance practices.
The Executive Director Corporate Services NDIC, Mrs Emily Osuji made the remark in a keynote address at the NDIC Stakeholders Town Hall meeting held in Kano on Monday.
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“While the CBN and the NDIC have continued to strengthen oversight, depositors also have a responsibility to remain vigilant and well-informed.
“The prudential regulation and supervision of licensed institutions is central to the attainment of stability in our financial system,” Osuji said.
She noted that the contributions of stakeholders will provide further insight and perspectives on consumer protection, as well as the rights and responsibilities of the banking public.
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“Together, we can ensure that the Nigerian banking system continues to serve as a safe and reliable channel for savings, investment and economic growth,” she said.
Osuji urged all depositors to ensure that their Bank Verification Number is properly linked to their bank accounts and identity records, as it greatly facilitates seamless and timely access to insured deposits in the event of bank failure.
“Our strapline says, “Protecting your bank deposits!”, are more than mere words for us. We stand by this statement as it is a firm commitment to our mandate of ensuring that depositors have access to their hard earned savings in the event of bank failure,” she added.
According to her, the town hall meeting is part of the corporation’s renewed efforts to deepen stakeholder engagement, enhance understanding of the Deposit Insurance System and promote public confidence in the Nigerian banking system.
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In his remarks, the Controller NDIC Kano Zonal Office, Mr. Ahmad Umar, said the theme of the meeting, “Strengthening Depositor Confidence: NDIC’s Role in Financial System Stability and Consumer Protection,” reflects the Corporation’s unwavering commitment to protecting depositors’ funds and reinforcing public trust in the financial system.
The Head communications and Public Affairs, Hawwau Gambo said the programme targets a broad spectrum of stakeholders, including trade associations, professional bodies, civil society organisations, student groups, financial institutions and relevant government agencies.
