The Nigeria Deposit Insurance Corporation (NDIC) has receive commendation from the Chartered Institute of Directors (CIoD) Nigeria for advancing corporate governance and ethical leadership within the financial sector. The CIoD lauded the NDIC’s operational standards, consistent fulfillment of its core mandate, and unwavering commitment to sound corporate governance, particularly in its crucial roles of banking supervision and depositor protection.
During a recent courtesy visit by the CIoD Governing Council to the NDIC headquarters in Abuja, President and Chairman of Council of the CIoD Nigeria, Tijjani Borodo, highlighted the role the NDIC has played in fostering stability within the banking sector and the broader financial sector.
Borodo acknowledged the NDIC’s successes in bank liquidation and resolution, while also pointing out that deficiencies in corporate governance have historically contributed to bank failures. He affirmed the CIoD’s resolve to promote exemplary governance and leadership across all sectors, including the banking industry, and noted the Institute’s mechanisms for addressing unethical conduct by directors.
The visit was hailed as an opportunity to fortify the existing partnership between the CIoD and the NDIC, particularly in capacity building. Areas of collaboration will include board induction programs, executive leadership development, and specialised governance training designed to meet the needs of directors in both public and private sectors.
Responding to the commendation, Mr. Bello Hassan, the Managing Director/Chief Executive Officer of the NDIC, expressed his sincere appreciation to the CIoD leadership for their efforts in promoting professionalism and corporate accountability. He underscored the NDIC’s unwavering commitment to safeguarding depositors and ensuring the stability of the financial system. Mr. Hassan emphasized that corporate governance is not merely an operational aspect for the NDIC but a fundamental pillar in strengthening the integrity and resilience of banks and bolstering public trust in the financial system.
Mr. Hassan further assured the CIoD of the NDIC’s continued commitment to its collaborative efforts with the Institute in cultivating a robust culture of corporate governance, not only within the NDIC’s executive ranks but also throughout the wider financial industry. This strengthened partnership promises a brighter future for Nigeria’s financial sector, built on a foundation of ethical leadership and sound governance principles.