The Managing Director/Chief Executive of Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has called on members of the public to ignore rumours of financial distress in some banks being circulated through text messages and social media to de-market some financial institutions and destabilise depositors’ confidence in the banking system.
Ibrahim said this in Abuja, during a courtesy visit to the corporation by the executive members of the Alumni Association of the National Institute (AANI), Abuja chapter led by its Chairman, Mr. Bola A. Balogun.
The NDIC boss said the corporation had over the years played a very critical role towards ensuring that banks were safe and sound through effective supervision of the banks, financial and technical assistance to deserving financial institutions and adoption of timely failure resolution options to problem banks.
He said that with the NDIC’s strict supervision and regulation of the banking industry in collaboration with the Central Bank of Nigeria (CBN), depositors should have full confidence in the safety and security of their funds in the licensed financial institutions.
