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Economy

Introduce Deposit Insurance module into curriculum, NDIC Tells ICAN

todayJanuary 27, 2025 11 17

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Oluwakemi Kindness

The Nigeria Deposit Insurance Corporation (NDIC) has called for the introduction of Deposit Insurance module into the curriculum of the Institute of Chartered Accountants of Nigeria (ICAN), examinations.

This is according to the Managing Director and Chief Executive Officer of NDIC, Bello Hassan, who says this initiative is essential to enhance understanding of the Deposit Insurance Scheme among ICAN members, who represent a significant portion of potential bankers and bank examiners.

Hassan made the call when ICAN’s President, Davidson Chizuoke S. Alaribe, led it Governing Council on a visit to the NDIC Management in Abuja.

A statement on Sunday by the Acting Director Corporate Communication, NDIC, Hawwau Gambo, quotes the NDIC boss who himself is a Fellow of the Institute, as describing ICAN as a strategic stakeholder of the Corporation.

Hassan reiterates the need for the Institute to ensure its members uphold the highest values of integrity and professionalism in the discharge of their duties as auditors, as the NDIC and the Central Bank of Nigeria (CBN) continue to rely on their work as external auditors in their risk-based supervision of banks.

He also restates the Management’s commitment towards strengthening the partnership between ICAN and the Corporation in contributing to the stability of the banking sector and the nation’s financial system as a whole.

For the President of the Institute of Chartered Accountants of Nigeria (ICAN), Davidson Chizuoke S. Alaribe, he commended the NDIC for its continuous compliance to the highest standards of integrity and transparency which is critical to the success of its operations in safeguarding depositors’ funds and ensuring the stability of the financial system.

Alaribe says, the NDIC has been recognise as a formidable organisation due to its commitment to compliance with standards of corporate governance, zero-tolerance for corruption and effective internal controls.

He adds that the Corporation’s commitment has been recognized by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which awarded NDIC the top position in its 2023 Ethics and Integrity Compliance Scorecard (EICS).

While underscoring the relationship between his Institute and NDIC, Alaribe disclosed that ICAN has also established the ICAN Accountability Index to promote integrity in key sectors of the economy, focusing on budget, credibility, asset and debt management.

END

Written by: Democracy Radio

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