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Sola Ojo, Kaduna
The lawmaker representing Kaduna central and Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani on Saturday described the retreat held by his committee with the Nigeria Deposit Insurance Corporation (NDIC) in Kaduna at the weekend as agenda-setting for national economic revival.
Uba Sani told newsmen that, the retreat themed, “Turning economic crisis to opportunities while ensuring deposits safety in Nigeria’s post-COVID-19 era”, became necessary to respond well with the national economy in this period.
“We took a critically look at the current state of the Nigerian economy in the light of the devastating impact of COVID-19 and the role NDIC must play to help stabilize the economy, he said.
Of particular interest to participants he said, were the issues of how to ramp up financial inclusion in the country, fast-tracking the regulation of Financial Technology Companies (FINTECHS), ensuring that adequate safeguards are put in place before loans are granted in order to protect customers deposits and the even spread of Micro-Finance and Mortgage Banks across the country.
He believed doing these would provide equal opportunities for Nigerians to access the stimulus packages for Micro, Small, and Medium Scale Enterprises.
He said, “the retreat came up with actionable points on how NDIC can be very effective in carrying out its mandate and impacting on the Nigerian economy.
“On our part as Senate committee in this matter, we will give NDIC all the legislative support it requires to succeed in its very important and strategic task of protecting depositors and guaranteeing payment of insured funds in the event of failure of insured institutions”.
