Alhaji Umaru Ibrahim, on Saturday said the amendment of the
corporation’s Act would enable better supervision of the sector.
Ibrahim said this in an interview with the News Agency of Nigeria
in Abuja.
He said that the NDIC wanted the removal of legal obstacles that
tend to work against efforts to pay depositors in case of
liquidation.
“We want the removal of legal obstacles placed against moves and
efforts to pay depositors in case of liquidation by going to court to
forestall that.
“As much as they want to exercise whatever right they think they
have, they should not do anything that will unnecessarily
jeopardise depositors’ interest.
“So we are seeking an amendment whereby regardless of any
subsisting court action, we should be able to go ahead and pay
insured depositors who are languishing,” Ibrahim said.
He said that the corporation also wanted to be able to sanction
erring management or directors that contributed to the downfall of
insured institutions in the country.
Ibrahim added that in the next 25 years, the NDIC would continue
to strive to deliver on its mandate of depositor protection.
“We will ensure the safety and soundness of our banking system
through supervision and we will continue to partner with all
stakeholders so as to achieve all our goals,” he said.
Also speaking with NAN, The Minister of State for FCT, Mr Bashir
Yuguda, said the NDIC had been a stabilising factor in the financial
sector and urged them to continue to do more.
Yuguda noted that the idea for the reform in the Act was to look at
areas where NDIC could meet up with the present challenges.
He said that with an insurance deposit fund of over N500 billion,
NDIC was doing the statutory job they were supposed to do and as
the supervising minister, he was happy about NDIC’s
achievements.
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