The Chartered Institute of Directors (CIoD) Nigeria has commended the Nigeria Deposit Insurance Corporation (NDIC) for its unwavering commitment to ethical leadership and sound corporate governance, describing the Corporation’s efforts as crucial to the stability of Nigeria’s banking sector.
A statement issued by Head, Communication and Public Affairs Department of the NDIC, Ms. Hawwau Gambo stated that president and Chairman of Council of the CIoD, Alhaji Tijjani Borodo, gave the commendation during a courtesy visit by the Institute’s Governing Council to the NDIC’s headquarters in Abuja.
Borodo praised the NDIC for its high operational standards and the consistent execution of its mandate, particularly in the areas of banking supervision, depositor protection, and the resolution and liquidation of failed banks.
“Poor corporate governance has been a major cause of bank failures in Nigeria. As the leading body for directors in the country, the CIoD has established strong mechanisms to sanction directors found culpable of unethical conduct,” he stated.
He stressed that the Institute remains committed to entrenching a culture of accountability and transparency across all sectors of the economy, including the financial services industry.
Borodo also described the visit as an opportunity to deepen collaboration between the CIoD and the NDIC, particularly in the area of capacity building through board induction, executive leadership programmes, and governance training specifically designed for directors in both public and private sectors.
In his response, NDIC Managing Director/Chief Executive, Mr. Bello Hassan, thanked the CIoD for its recognition and reiterated the Corporation’s focus on protecting depositors and ensuring financial system stability.
“Corporate governance is central to our operations and a key pillar in strengthening the resilience of banks. It plays a vital role in building public confidence in the financial system,” Hassan said.
He expressed the NDIC’s readiness to expand its partnership with the CIoD, adding that the Corporation is committed to advancing a strong governance culture not only within its own ranks but also across the broader financial industry.
Both parties pledged to work closely to promote ethical leadership and governance reforms capable of transforming Nigeria’s corporate landscape.
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