Nigerian depositors are our priority – NDIC

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The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Mr Bello Hassan, stated on Thursday that Nigerian depositors are the top priority of the organisation.

He added that “And our foundation is built on ensuring the safety and security of their deposits. This ideal is encapsulated in our strap line; “Protecting your bank deposits!”.

Bello made this Known at NDIC’S Special Day At The 18th Abuja International Trade Fair.

According to him, “This is crucial for financial inclusion because it gives Nigerians the assurance that their money is safe and accessible when needed. Furthermore, the Corporation’s activities through the supervision of banks, continuous monitoring and oversight serves as consumer protection for depositors which enhances confidence in the financial system. This acts as an incentive for the unbanked to access financial services of licensed banks.”

“It is with great pleasure and pride that I welcome you all to the Nigeria Deposit Insurance Corporation (NDIC) Special Day at the ongoing 18th Abuja International Trade Fair 2023. Let me specially welcome and appreciate all our distinguished guests and royal fathers here present, government officials, representatives of financial institutions, the private sector, members of the academia, gentlemen of the press, civil society groups as well as other stakeholders for availing themselves out of their very tight schedules. Your presence here reflects the high regard you have for the NDIC and your commitment to the stability of our nation’s financial system.”

He commended the president and indeed the entire team at the Abuja Chambers of Commerce for hosting the 18th edition of the Abuja International Trade Fair.

He said this year’s theme, “Sustainable Financing and Taxation as Drivers for the New Economy,” is especially relevant given the determination of government’s efforts towards achieving sustainable growth by strengthening the financial environment to boost economic growth. This falls in line with the Corporation’s contributions of ensuring the stability of the financial system by effectively complimenting the CBN in supervising the banking sector and safeguarding depositors’ funds from the adverse effects of bank failures when it occurs.

He cautioned members of the public of illegal activities activities of fund managers often refered to as “wonder Banks or Ponzi Schemes.

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