The Nigeria Deposit Insurance Corporation (NDIC) and the Chartered Institute of Bankers of Nigeria (CIBN) have pledged to strengthen their collaboration in addressing emerging risks and challenges in the banking sector.
The Managing Director/Chief Executive of NDIC, Thompson Oludare Sunday, made the call during a courtesy visit by the President/Chairman of Council of CIBN, Prof. Pius Deji Olanrewaju, and members of his executive team to the NDIC Head Office in Abuja.
The NDIC boss emphasized the need for a stronger partnership between both institutions in critical areas such as digital banking, cybersecurity, and sound risk management.
He highlighted the importance of regulators and operators working together to build a stronger financial ecosystem that can withstand the challenges of innovation and deliver value to the economy.
Oludare Sunday commended the CIBN’s growth and positive impact on the banking system.
The NDIC Chief Executive called on the Institute to work closely with regulators to develop innovative failure resolution strategies that strengthen the overall resilience of the banking sector.
He reiterated the Corporation’s commitment to supporting professional institutions like CIBN in promoting innovation while maintaining sound risk management frameworks and financial system stability.
The President/Chairman of Council of CIBN, Prof. Pius Deji Olanrewaju, congratulated the NDIC boss on his appointment and expressed confidence in his ability to uphold the trust reposed in the Corporation.
He commended the NDIC for its notable achievements, including the upward review of deposit insurance coverage and the deployment of technology to expedite depositor reimbursement.
The CIBN President appreciated the NDIC’s contributions to the Institute’s Governing Council, noting that its participation has strengthened the Council’s oversight functions, policy direction, and ethical leadership.
Both institutions have reaffirmed their commitment to collaboration and strengthening the financial system.
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