The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to safeguarding depositors’ funds and promoting financial stability through closer collaboration with the Ministry of Finance.
During a courtesy visit to the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, in Abuja, the NDIC’s Managing Director/CEO, Mr. Bello Hassan, emphasized the importance of synergy between both institutions. He was joined by NDIC Executive Directors Mustapha Ibrahim (Operations) and Mrs. Emily Osuji (Corporate Services).
Speaking during the visit, Mr. Hassan highlighted the NDIC’s efforts in enhancing financial inclusion and reducing non-performing loans. “Our role as Nigeria’s primary deposit insurer is pivotal to maintaining public confidence in the financial system. Strengthening our relationship with the Ministry of Finance is key to achieving these goals,” he said.
Dr. Uzoka-Anite commended the NDIC for its proactive measures in ensuring financial sector stability, noting that collaboration with stakeholders like the NDIC is critical to achieving the government’s economic objectives. “The Ministry is open to working closely with the NDIC to enhance financial system stability and foster economic growth,” she stated.
The NDIC outlined its initiatives, which include improving deposit insurance coverage, supporting financial literacy campaigns, and addressing challenges in the banking sector. The agency reaffirmed its commitment to working with the Ministry to address financial risks and protect depositors.
This visit reflects the shared vision of both institutions to ensure the stability of Nigeria’s financial system, a goal that aligns with global best practices in financial management.