The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Sunday, has called for stronger ties between the NDIC and the Chartered Institute of Bankers of Nigeria (CIBN) to tackle new and growing risks in the banking sector.
In a statement on Thursday, the NDIC said Mr. Sunday made this known when the CIBN President, Prof. Pius Olanrewaju, and his team visited the Corporation’s headquarters in Abuja.
Both organisations agreed to deepen their partnership in key areas like digital banking, cybersecurity, fraud prevention, and risk management, to make Nigeria’s financial system more secure and adaptable to modern challenges.
Mr. Sunday noted that regulators and banking professionals must work hand in hand to build a stronger, more resilient financial sector that can keep up with rapid technological changes.
He praised the CIBN for its continued effort in promoting professionalism and skill development in the banking industry and encouraged the Institute to collaborate more closely with regulators in finding innovative solutions to issues like bank failures.
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Prof. Olanrewaju congratulated Mr. Sunday on his appointment and commended the NDIC for some of its recent milestones — including raising the limit on deposit insurance, speeding up payments to depositors through technology, and ensuring liquidation dividends were paid within a year of Heritage Bank’s closure.
He said these moves have helped to restore confidence among depositors and investors in the banking system.
Olanrewaju also thanked the NDIC for actively participating on the CIBN Governing Council, noting that its involvement has improved decision-making, policy formulation, and ethical standards in the Institute.
