NDIC’s New Management Vows to Protect Depositors, Strengthen System Stability

By Oluwakemi Kindness

The newly inaugurated leadership of the Nigeria Deposit Insurance Corporation (NDIC) has pledged to carry out its responsibilities effectively in line with the agency’s mandate to protect depositors and contribute to financial system stability.

The newly appointed Managing Director and Chief Executive Officer of the NDIC, Thompson Sunday, gave the assurance in a statement posted on the Corporation’s official X (formerly Twitter) account on Friday.

He expressed confidence in the capacity of the management team to meet expectations and fulfil its role within Nigeria’s financial architecture.

“We are committed to ensuring the protection of depositors and enhancing the stability of the financial system,” he said, while expressing gratitude to President Bola Tinubu for the appointment.

Addressing staff on behalf the Management team, Sunday promised to work in harmony with staff to move the Corporation to its next level of performance.

He stressed that the Management’s focus under his leadership would be based on the public policy objectives, functions and mandate devolved on the Corporation by the enabling law that established it.

And the ED (Operations), Dr. Kabir S. Katata added that the Management team will build on past achievements to elevate the Corporation to compete on the highest global standards.

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who inaugurated the new management team, urged them to apply their experience to strengthen the Corporation’s operations.

Edun described the NDIC as a critical part of the country’s financial safety-net, stressing its importance in Nigeria’s pursuit of economic stability and growth.

He assured the team of the ministry’s support in carrying out its mandate.

President Tinubu had appointed Thompson Sunday as Managing Director and Dr Kabir Katata as Executive Director (Operations) of the Corporation.