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The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Sunday, has called for deeper collaboration with the Chartered Institute of Bankers of Nigeria (CIBN) to address emerging risks in the banking industry.
According to a statement issued by the NDIC on Thursday, Mr. Sunday made the appeal during a courtesy visit by the CIBN President and Chairman of Council, Prof. Pius Olanrewaju, and his executive team to the Corporation’s headquarters in Abuja.
Both institutions reaffirmed their commitment to strengthening cooperation in critical areas such as digital banking, cybersecurity, fraud prevention, and risk management — key components of a rapidly evolving financial landscape.
Mr. Sunday emphasized the need for regulators and industry stakeholders to work together to enhance the resilience of Nigeria’s financial system, particularly as new technologies continue to reshape banking operations. He also commended the CIBN for its ongoing contributions to professional development within the sector and urged closer collaboration in developing innovative failure-resolution frameworks to protect depositors and maintain financial stability.
In his remarks, Prof. Olanrewaju congratulated Mr. Sunday on his appointment and applauded the NDIC’s recent achievements, including the upward review of deposit insurance coverage, accelerated depositor reimbursement through technology, and the swift payment of liquidation dividends within one year of Heritage Bank’s closure.
He noted that these milestones have significantly boosted depositor and investor confidence in Nigeria’s banking system.
Prof. Olanrewaju also praised the NDIC’s active participation on the CIBN Governing Council, highlighting how the Corporation’s involvement continues to strengthen governance, enhance policy direction, and promote ethical leadership within the financial services industry.
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