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Published On: Fri, Feb 9th, 2018

NDIC restates zero tolerance for malpractices, partners ICPC

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By Musa Adamu

The Nigeria Deposit Insurance Corporation (NDIC) has retested its zero tolerance for all forms of malpractices within the Corporation.
The corporation said it had reflected this in all the initiatives it had taken to fully implement its mandate.
The Managing Director/Chief Executive of the Corporation, Umaru Ibrahim,
made the remark during the inauguration of the re-constituted Anti-Corruption and Transparency Unit (ACTU) of the Corporation by the Acting Chairman of the Independent Corrupt Practices and other related Offences Commission (ICPC) represented by the Head of Anti-Corruption and Transparency Unit, Mr. Justin Kuatsea.
Alhaji Ibrahim stated that based on its mandate and supervisory activities, the NDIC was at the forefront of the fight against corruption through the enforcement of good corporate governance, transparency and accountability to minimise the risk of bank failure in order to protect depositors and ensure safety and soundness of the financial system.
He described the inauguration of the NDIC ACTU as good development as it would further strengthen the Corporation’s resolve and its partnership with other government agencies involved in the anti-corruption fight towards promoting credible and effective service delivery in the public sector.
Ibrahim further noted that the NDIC had been organising annual capacity building seminars for strategic stakeholders such as the ICPC, Economic and Financial Crimes Commission (EFCC), Special Fraud Unit and Nigeria Financial Intelligence Unit of the Nigeria Police Force in the area of financial crime investigation.
He also expressed the readiness of NDIC to sustain its participation in the capacity building programmes organised by the ICPC Training Academy.
Acting Chairman of ICPC, Abdullahi Bako, said ACTU was created by the ICPC in 2001 in all government agencies to curb corrupt practices and to establish transparent processes and procedures in the public sector.
He commended the NDIC for its commitment to transparency and accountability in the discharge of its regulatory responsibilities.
He expressed the hope that the inauguration of the unit would create synergy for effective collaboration between the two agencies.

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