NDIC, ICPC restates commitment to end corruption

Elizabeth Christopher, Abuja


The Nigeria Deposit Insurance Corporation (NDIC) has restated its commitment towards fulfilling its mandate in the fight against corruption.

The Managing Director of the Corporation, Umaru Ibrahim,  stated that based on its mandate and supervisory activities, the NDIC is 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 as well as ensure safety and soundness of the financial system.

Mr. Ibrahim made the remark during the inauguration of the re-constituted Anti-Corruption and Transparency Unit (ACTU) of the Corporation organised by the Acting Chairman of the Independent Corrupt Practices and other related Offences Commission (ICPC), who was represented by the Head of Anti-Corruption and Transparency Unit, Mr. Justin Kuatsea.

He said the corporation has zero tolerance for all forms of malpractices within the Corporation and in all the initiatives it has taken to fully implement its mandate.

He described the inauguration of the NDIC Anti-Corruption and Transparency Unit (ACTU) as good development which will further strengthen the Corporation’s resolve and its partnership with other government agencies involved in the anti-corruption fight.

To that end, Alhaji Ibrahim noted that the NDIC has 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.

The Acting Chairman of ICPC, Alh. Abdullahi Bako, who was present at the inauguration said that the Anti-Corruption and Transparency Unit 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.

While  expressing the hope that the inauguration of the unit would create synergy for effective collaboration between the two agencies, he commended the NDIC for its commitment to transparency and accountability in the discharge of its regulatory responsibilities.