President Bola Ahmed Tinubu has appointed Dr. Thompson Oludare Sunday as the new Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC).
Sunday, a seasoned financial expert with more than three decades of regulatory and supervisory experience, was confirmed by the Senate before assuming duty on July 25, 2025.
A First Class graduate of Business Administration (Finance) from Ahmadu Bello University, Zaria, in 1985, Sunday also bagged an MBA from the same institution in 1988 and later capped his academic pursuits with a Doctorate Degree in Management from St. Clements University in 2009.
His academic brilliance earned him the Federal Government Merit Award for Academic Excellence and the Best Graduating Student Award in Business Administration from ABU in 1985.
Sunday began his career at the Central Bank of Nigeria (CBN) in 1989, where he rose steadily and spent 24 years in banking supervision. He retired as a Director in November 2021 after an illustrious career marked by high-profile assignments and landmark reforms in the banking sector.
Among his numerous contributions, he chaired the Bank-wide Committee for the Review and Drafting of the Banks and Other Financial Institutions Act (BOFIA), which culminated in the enactment of BOFIA 2020.
He also served on the Expert Committee for the Harmonisation of Risk-Based Supervision Frameworks for the West Africa Monetary Zone and was a member of the CBN/NDIC Technical Committee on Problem Banks.
Sunday played key roles in the historic 2004–2005 banking consolidation exercise and the 2009 banking sector reforms, contributing to policy documents such as the Code of Corporate Governance and the framework for regulating systemically important banks.
In addition, he represented the CBN as an Independent External Examiner at Heritage Bank between February 2023 and January 2024, where he also served on the Board and Executive Management Team.
His achievements earned him multiple recognitions, including the CBN Best Staff of the Banking Supervision Department in 2001, and a commendation letter from the CBN Board of Directors in 2009 for “Outstanding Performance, High Sense of Responsibility and Moral Uprightness” during the banking sector reforms.
A member of the Nigerian Institute of Management and a Doctoral Fellow of the Institute of Professional Financial Managers, Sunday is regarded as a highly analytical leader with strong expertise in corporate governance, risk management and compliance.
With his appointment as NDIC boss, industry watchers believe Sunday’s wealth of experience will play a pivotal role in strengthening Nigeria’s financial system and safeguarding depositors’ funds.
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