Business

NDIC faces perception crisis

Published

9 years ago

August 10, 2015

In from Ali Smart …
Managing Director of the Nigeria Deposit Insurance Corporation (NDIC) Alhaji Umar Ibrahim has raised concern over poor public perception of the corporation.
He gave this hint on Monday at the end of the opening ceremony of a seminar for external solicitors of the NDIC, in Abuja.
Ibrahim observed that a large segment of the Nigerian public had a wrong perception about the corporation and its statutory mandate.
According to him, “one of the major challenges confronting the corporation in the discharge of its mandate is public awareness. We have observed with concern that most of the Nigerian public have a misconceived perception of the corporation and its functions.”
To tackle this challenge, the NDIC, he said, has “invested valuable resources in ensuring that this negative trend is reversed in line with its strategy of enhancing public awareness.”

To this end, the NDIC he said supported the seminar with the theme: “Challenges to deposit insurance law and practice in Nigeria” as part of its efforts to sensitise stakeholders on the practice of deposit insurance.
This, he stated, was what prompted the corporation to invest resources to reverse the trend through effective and continuous public awareness and close collaboration with key stakeholders.
The NDIC boss noted that NDIC would continue to collaborate with the judiciary to ensure the effective discharge of its mandate and its continued contribution to financial system stability in the country.

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