The Nigeria Deposit Insurance Corporation (NDIC)’s operational standards and commitment to ethical leadership are responsible for the stability of the country’s banking sector.
The President, Chartered Institute of Directors (CIoD) Nigeria, Tijjani Borodo, recently said this during a courtesy visit by the CIoD Governing Council to the Management of the Nigeria Deposit Insurance Corporation (NDIC) at the corporation’s head office in Abuja.
Tijjani reiterated the Institute’s unwavering commitment to promoting high standards of governance and leadership across all sectors, including the banking industry.
While hailing the NDIC for its commendable achievements in bank liquidation and resolution, he revealed that bad corporate governance has been a major factor behind the recent struggles of banks across Nigeria.
Revealing that the CIoD has launched mechanisms and procedures to sanction erring directors who are found guilty of unethical conduct, Tijjani maintained that the visit of the Governing Council of the CIoD is a good opportunity to boost the partnership between the Institute and the NDIC.
He stressed the importance of collaboration, especially in the area of capacity building via board induction programmes, executive leadership development, and governance training.
Responding, the NDIC Managing Director/CE, Bello Hassan, appreciated the CIoD leadership for constantly promoting professionalism and corporate accountability.
Emphasising the NDIC’s commitment to depositor protection and financial system stability, he stated that corporate governance will always be key when it comes to strengthening the integrity and resilience of banks, which would then directly lead to increased public confidence in the financial system.
Hassan further confirmed that the corporation will remain committed to sustaining its collaboration with the Chartered Institute of Directors (CIoD). He rounded up by pledging to keep fostering a strong culture of corporate governance among the NDIC’s executive staff and across the broader financial industry.
