Sunday, April 14, 2024

NDIC, EFCC reiterate commitment to combating financial crimes

Share

The Nigeria Deposit Insurance coverage Company, NDIC, says it stays dedicated to making sure that those that contribute to the failure of banks are correctly investigated and prosecuted.

The Managing Director and Chief Government of the NDIC, Bello Hassan, made this assertion throughout a courtesy go to of the NDIC Administration to the Government Chairman of the Financial and Monetary Crimes Fee, EFCC, Ola Olukoyede, on the EFCC Headquarters in Abuja.

Hassan famous that the NDIC performs a vital function in combating monetary crimes inside the banking sector by its mandate which incorporates financial institution supervision and liquidation of licensed banks.

In line with him, the final word goal of the NDIC is to guard depositors’ funds and make sure the stability of the monetary system.

He applauded the EFCC for its relentless efforts within the battle in opposition to corruption and monetary crimes, emphasizing the indispensable function it performs as a key member of the Taskforce on Implementation of the Failed Banks Act which is chaired by the NDIC.

The NDIC boss known as for enhanced collaboration within the restoration of depositors’ funds to make sure that liquidation dividends are paid to depositors whose monies have been misplaced on account of financial institution failures.

He, due to this fact, solicited for the return of recoveries made by the EFCC on behalf of the NDIC to the company’s coffers to be able to facilitate the well timed reimbursement of depositors.

Olukoyede emphasised the interconnection between prison actions and financial institution failures, urging NDIC and the Central Financial institution of Nigeria, CBN, to accentuate oversight to stop the danger of financial institution failure.

He pledged the EFCC’s dedication to deepening collaboration and synergising efforts in combating monetary crimes, thereby safeguarding the integrity of Nigeria’s banking sector.

Read more

Local News