Daud Olatunji
The President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe, has lauded the Nigeria Deposit Insurance Corporation (NDIC) for its unwavering commitment to integrity, transparency, and professionalism, which he noted are essential to maintaining the stability of the nation’s financial system.
Speaking during a courtesy visit by the ICAN Governing Council to the NDIC Management in Abuja, Chief Alaribe acknowledged the NDIC’s continuous adherence to the highest standards of corporate governance and zero tolerance for corruption.
These values, he emphasized, have been pivotal in safeguarding depositors’ funds and promoting confidence in Nigeria’s financial system.
Alaribe further praised the Corporation’s efforts, highlighting its recognition by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which awarded NDIC the top position in its 2023 Ethics and Integrity Compliance Scorecard (EICS).
The ICAN President also underscored the strong relationship between his Institute and the NDIC, sharing that ICAN had launched the ICAN Accountability Index to enhance integrity within critical sectors of the economy, focusing on areas such as budgeting, asset management, and debt management.
In his response, NDIC’s Managing Director and Chief Executive Officer, Mr. Bello Hassan, congratulated Chief Alaribe on his appointment as the 60th President of ICAN. Hassan, a Fellow of ICAN, described the Institute as a strategic partner to the NDIC.
He stressed the importance of ensuring that ICAN members uphold the highest professional standards, particularly in their roles as external auditors to both the NDIC and the Central Bank of Nigeria (CBN).
Hassan also reiterated his earlier call for stronger collaboration between the two institutions, particularly advocating for the introduction of a Deposit Insurance module in ICAN’s examination curriculum.
This, he said, would bolster ICAN members’ understanding of the Deposit Insurance Scheme and enhance their contributions to the banking sector’s stability.
The NDIC Managing Director assured that the Corporation remains committed to fostering a stronger partnership with ICAN, working together to further strengthen the country’s financial system.
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