By 
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has tasked the newly appointed leadership of the Nigeria Deposit Insurance Corporation (NDIC) with leveraging their extensive expertise to reinforce the institution’s critical role in the country’s financial system.
Speaking during the formal inauguration of the NDIC’s new Managing Director/Chief Executive Officer, Mr. Thompson Sunday, and Executive Director (Operations), Dr. Kabir Katata, at the Ministry of Finance in Abuja, Edun emphasized the Corporation’s vital contribution to economic resilience.
According to a statement released by NDIC’s Head of Communication & Public Affairs, Hawwau Gambo, the Minister underscored that the NDIC, as a key pillar of the nation’s financial safety net, must drive initiatives that promote economic stability and public confidence in the banking sector.
“He charged the management team to apply their diverse wealth of experience in fulfilling the Corporation’s strategic mandate, assuring them of the Ministry’s full backing,” the statement read.
Mr. Sunday, who succeeds acting MD Mrs. Emily Osuji, expressed his gratitude to President Bola Tinubu for the appointment. He reaffirmed the management’s commitment to upholding the expectations of the President and delivering on NDIC’s statutory responsibilities.
Addressing staff at the NDIC headquarters, Sunday pledged to foster a collaborative work environment aimed at enhancing institutional performance. He noted that the Corporation’s focus would remain anchored on its public policy objectives and the provisions of its enabling legislation.
With over three decades of regulatory and supervisory experience, Sunday began his career at the Central Bank of Nigeria in 1989. He brings a deep background in banking supervision, corporate governance, risk management, and compliance, and retired as a Director at the CBN in 2021.
Dr. Katata, the new Executive Director (Operations), is a seasoned quantitative energy strategist and computational finance expert. He brings over 28 years of cross-sectoral experience spanning finance, energy, telecommunications, and public policy. Since joining NDIC in 2012, he has held various strategic roles, culminating in his appointment as Director in 2022.
In a related development, the NDIC reiterated its commitment to reimbursing eligible depositors of the defunct Heritage Bank. Through a post on its official X (formerly Twitter) account, the Corporation confirmed that the payout of insured deposits is ongoing, in response to public appeals from affected customers.
The Corporation assured depositors that it remains focused on fulfilling its mandate of protecting depositors and promoting public confidence in the financial system.
Comments