The Nigeria Deposit Insurance Corporation (NDIC) has been praised by the Chartered Institute of Directors (CIoD) Nigeria for its outstanding role in promoting ethical leadership and corporate governance in the financial sector.
During a recent courtesy visit to the NDIC headquarters in Abuja, members of the CIoD Governing Council applauded the Corporation’s dedication to its core mandate, as well as its high operational standards and consistent oversight of banking practices. The CIoD highlighted the NDIC’s significant contributions to depositor protection and its supervisory role in maintaining financial stability.
Tijjani Borodo, President and Chairman of Council at CIoD Nigeria, commended the NDIC’s achievements in bank resolution and liquidation, stressing that poor corporate governance has often been a key factor behind bank failures. He reiterated the CIoD’s commitment to upholding excellence in governance and leadership, and noted that the Institute has systems in place to hold directors accountable for unethical practices.
The visit also served as a platform to explore ways of enhancing collaboration between the two organisations, particularly in the area of capacity development. Planned joint initiatives include board induction courses, leadership development for executives, and governance training tailored to the needs of directors across both public and private sectors.
In response, NDIC Managing Director Bello Hassan thanked the CIoD for its commitment to fostering professionalism and accountability. He reaffirmed the Corporation’s dedication to protecting depositors and ensuring the resilience of Nigeria’s financial landscape.
Mr Hassan emphasised that for the NDIC, corporate governance is not just a regulatory function, but a core value that supports the integrity and sustainability of the banking sector. He pledged continued cooperation with the CIoD in nurturing strong governance practices both within the NDIC and across the broader financial system.
This renewed alliance between the NDIC and CIoD aims to promote a future of ethical stewardship and reliable governance at the heart of Nigeria’s financial institutions.