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NDIC, Senate strengthens collaboration on deposit insurance

NDIC urges farmers to embrace insurance policies to enhance their produce
By Babajide Komolafe
The Senate Committee on Banking, Insurance and   Other financial Institutions and the Nigeria Deposit Insurance Corporation, NDIC,   have commenced moves for increased collaboration on enhancing deposit insurance delivery in the country.
This was the highlight of the NDIC retreat for members of the Senate Committee held in Lagos, themed, “Deposit Insurance in Nigeria: Re-strategizing for Tomorrow”.
Speaking at the retreat, Managing Director/Chief Executive, NDIC, Mr. Bello Hassan, stated that the innovations and threats to existing models of business, regulation and supervision are manifesting in   operations, are compelling regulators   across the globe to brainstorm   on fresh ideas to ensure that the financial system remains resilient, sound and stable so as to continue to play its supportive role in the economy.
He added that the NDIC, in line with this global trend, has enhanced collaboration with relevant stakeholders like the National Assembly, Federal Ministry of Finance, Budget & National Planning, the Judiciary and the CBN on almost all relevant activities.
The retreat, he added, is part of the enhanced collaboration, and is designed as an opportunity to share ideas with members of the Senate Committee on how to re-strategise the Corporation to effectively deliver on its Public Policy Objectives as well as its mandates.
Speaking in the same vein, Senator Uba Sani, Chairman, Senate Committee On Banking, Insurance & Other Financial Institutions, said: “Engagement of this nature gives us the platform to deeply look into our activities and responsibilities and also examine how far we have gone in carrying out our mandate as required.
“It helps in injecting fresh ideas into our operations which will materialise into an improved, effective and efficient service delivery to Nigerians.”

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