The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation, Thompson Sunday, has called for stronger collaboration between the Corporation and the Chartered Institute of Bankers of Nigeria to address emerging risks in the banking sector.
According to a statement from the Corporation, the Managing Director made the call during a courtesy visit by the President and Chairman of the Council of the CIBN, Prof. Pius Olanrewaju, and his executive team to the NDIC Head Office in Abuja.
Both institutions agreed to strengthen cooperation in areas such as digital banking, cybersecurity, fraud prevention, and risk management. The NDIC Chief Executive stressed that regulators and operators must work together to build a more resilient financial ecosystem capable of adapting to technological innovation.
He also commended the CIBN for its contribution to professional development in the banking sector and urged the Institute to collaborate more closely with regulators to develop innovative failure-resolution strategies. Prof. Olanrewaju congratulated applauds the NDIC’s review of deposit insurance coverage, faster depositor reimbursement using technology, and the commencement of liquidation dividend payments within one year of Heritage Bank’s closure.
He added that these initiatives had strengthened depositor and investor confidence in the banking system. Olanrewaju also lauded the NDIC’s active role on the CIBN Governing Council, saying its participation had enhanced oversight, policy direction, and ethical leadership
