The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has charged the newly appointed management of the Nigeria Deposit Insurance Corporation (NDIC) to ensure the agency remains a strong pillar in the nation’s quest for economic stability and prosperity.
Edun gave the charge in Abuja while inaugurating Mr. Thompson Oludare Sunday as the Managing Director/Chief Executive Officer and Dr. Kabir Sabo Katata as Executive Director (Operations) of the NDIC.
Describing the NDIC as a vital component of Nigeria’s financial safety net, Edun said the agency must redouble efforts to ensure depositor protection and institutional resilience in line with President Bola Tinubu’s economic reform agenda.
“The NDIC plays a critical role in our march toward economic recovery and sustainable growth.
“I urge the new management to bring their wealth of experience to bear in delivering on their mandate. The ministry will give them all the necessary support,” he said.
In his response, the new NDIC boss, Mr. Sunday, expressed appreciation to President Tinubu for the trust reposed in him and his team, pledging to reposition the Corporation in line with global best practices.
“We are fully aware of the expectations and will work tirelessly to strengthen deposit insurance and public confidence in the financial system,” he said.
Sunday also assured the minister that under his leadership, NDIC would focus on its core objectives as outlined in its enabling law.
Addressing staff at the Corporation’s head office shortly after the inauguration, he promised a collaborative and performance-driven administration.
Thompson Oludare Sunday brings over three decades of regulatory experience, having started his career at the Central Bank of Nigeria (CBN) in 1989.
He spent 24 years in banking supervision, specializing in corporate governance, risk management, and compliance. He retired from the apex bank as a director in 2021.
On his part, Dr. Katata, the new ED (Operations), is a seasoned energy strategist and computational finance expert with over 28 years of experience across telecommunications, IT, energy, finance, and government.
He joined NDIC in 2012 and rose to become a director in 2022 before his elevation.
Meanwhile, the new management team received a warm reception at the Corporation’s head office, where workers pledged their support for the leadership.
The inauguration ceremony also had in attendance the Minister of State for Finance, Dr. Doris Uzoka-Anite, among other top officials.
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