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From Uche Usim, Abuja
The Nigeria Deposit Insurance Corporation (NDIC), Thursday, disclosed it remitted N7 billion into the Consolidated Revenue Account (CRF) as its operating surplus for 2018 financial year, in line with the dictates of the Fiscal Responsibility Act.
The Managing Director/ Chief Executive of the Corporation, Umaru Ibrahim made the disclosure at the inauguration of its newly-appointed Board of Directors by the Minister of Finance, Mrs Zainab Ahmed, in Abuja.
Earlier in her remarks at the inauguration, the Minister urged the board members to live above board in all their dealings.
She said: “You are assuming duty at a time when the Nigerian financial system is still facing some challenges and requires efforts aimed at addressing issues such as corporate governance, and high level of non-performing loans, among others.
“You are also coming at a time when the system is grappling with the issues related to meeting the target of reducing financial exclusion in Nigeria to about 20 percent by year 2020.
“The potential benefits and risks associated with the financial technology and blockchain technology are also on the front burner. These and other challenges can cause threats to the stability of our financial system and must be addressed promptly for the sector to play its role in facilitating the implementation of the Economic Recovery and Growth Plan ( ERGP)”, she said.
The Minister however, expressed confidence on the calibre of members appointed into the board, describing them as thorough-bred professionals capable of planting the nation’s economy on the path of sustainable growth.
The Senate in December, 2018, confirmed the appointment of Mrs. Ronke Sokefun, as Chairman of the Board of the Nigerian Deposit Insurance Corporation. Other members of the NDIC board include Mr Festus Keyamo, Alhaji Garba Bello, Bri-Gen. Josef O. J. Okoloagu, Mustapha Adewale Mudashiru, and Mr. Adewale W. Adeleke.
Responding on behalf of her board members, board Chairman, Mrs. Ronke Sokefun assured the Minister that board members would bring their wealth of experience to bear to ensure the Corporation attains its mission and vision.
“I’ll like to thank President Muhammadu Buhari, for finding us worthy of his trust by giving us this mandate.
I also like to thank the Minister for inaugurating this board today despite her very tight. I want to assure the Minister and all stakeholders of Nigeria financial system that we will live up to the responsibility repose on us by Mr. President”
“We will bring our wealth of experience to bear on the Corporation and the Nigerian banking system particular in the discharge of its mandate to ensure strict compliance with corporate governance principle,” she said.
