The Nigeria Deposit Insurance Corporation, NDIC has reiterated its commitment to financial system stability for sustainable growth and development in line with its core mandates.
Managing Director of NDIC Mr. Bello Hassan made this known during the NDIC special day at the 44th Kaduna International Trade fair, with the theme “Promoting Value Addition for sustainable growth and development.
Mr. Bello Represented by a Manager in the corporation Mr. Tanko Ibrahim, explained that, in an effort to enhance public confidence in the country’s financial system, the NDIC had consistently participated in the Kaduna International Trade fair with a view to enlightening depositors on the activities of Deposit Insurance Scheme, DIS.
According to NDIC Boss, the Corporation was determined to protect the interest of depositors and ensure general safety of the entire banking systems in addition to providing support for small and medium enterprises sub-sectors of the economy to guarantee sustainable growth and development.
As critical components of the nation’s financial system, he pointed out that the activities of the corporation is centred around four core mandates that included: deposit guarantee, bank supervision as well as failure resolution and liquidation.
On the issue of the new naira swap policy, the MD assured Nigerians of the monitoring committee that had been set up to ensure the challenge is tackle for depositors to access their funds without any delay, adding that in a couple of days the difficulties faced by depositors will be over.
“It is worthy to note that the corporation has been effectively and efficiently discharging its mandate, living up to its public policy objectives and contributing to financial stability”
“In the aspect of Deposit Guarantee, we are happy to state that NDIC has been highly responsive in providing coverage to all eligible deposits and and products as they evolve in our banking system”
“Apart from depositors of Deposit Money Banks, DMBs, Primary Mortgage Banks, PMBs and Microfinance Banks, MFBs, the Corporation has also been responsive by extending deposit insurance Coverage to depositors of Non Interest Banks, NIBs, Payment Service Banks, PSBs and subscribers of Mobile Money Operators, MMOs”, explained Bello.
On his part, President of Kaduna Chamber of Commerce, Industry, Mines and Agriculture, KADCCIMA Alhaji Aliyu Suleiman represented by the council member Hajiya Hadiza Mailafiya explained that, the program was geared toward strengthening the country’s economy through the development of medium and small scale industries in line with the initiative of the African Continental Free Trade Agreement.
According to the president, the carefully selected theme became imperative following the fact that despite the numerous resources embedded in the country, Nigeria was still loosing out in the international market for lack of value addition, hence the need for partnership to promote competitiveness of the nation in the global market arena via aggressive value chain development.
Highlight of the NDIC special day at the Kaduna International Trade fair included traditional dance, drama, rifle draw, as well as good will messages.
Daniel Karlmax
