Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has stressed the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism in the banking industry.
Hassan, in a statement issued by the corporation’s Director, Communications and Public Affairs, Bashir Nuhu, was quoted as making the call when the Executive Council members of the Chartered Institute of Bankers (CIBN), led by the President and Chairman of Council, Mr. Bayo Olugbemi , paid him a courtesy visit in the corporation’s headquarters in Abuja
The NDIC boss pointed out that although there had been improvements in risk management practices within the banking industry, he, however ,stressed the need for the Institute to strengthen its efforts towards ensuring that banking professionals comply with the high standards expected of them in terms of ethics and professionalism in order to ensure the safety and soundness of the banking system.
The deposit insurance expert noted that the vision and mission of the Institute aligned with that of the Corporation which focuses on the protection of depositors through the provision of deposit insurance in licensed banks and deposit taking financial institutions and assisting monetary authorities in formulating sound banking policies.
He explained: “These mandates are consistent with the objectives of CIBN as the only professional body that is charged with the responsibility of regulation of banking profession within Nigeria. Therefore, we will continue to work together as partners in ensuring that the banking system in Nigeria remains safe, sound and stable.”
While acknowledging the CIBN’s accreditation of the Corporation’s Academy as as a training service provider of the banking industry, the NDIC boss advised the Institute to continue to focus on attaining sustainable learning and professional development through creating alliances and partner with regulators, operators and other relevant agencies and service providers for the mutual benefit of all stakeholders in the banking industry.
This is even as he assured the CIBN delegation of the corporation’s commitment towards continued collaboration with the institute in its various programmes to contribute to the effective service delivery and stability of the banking industry.
In his remarks, the CIBN President noted the corporation’s active participation in the CIBN as a permanent member of the Council and the membership of staff, especially at various levels of the CIBN committees.
Olugbemi recalled that the corporation had made valuable inputs to the Amendment of the CIBN Act which is before the National Assembly and solicited its continued support during the amendment process.
The seasoned banker pledged the Institute’s commitment to use collaboration and advocacy, through its vast network of stakeholders, to promote the merits of deposit insurance and the critical role of the mandate and activities of the corporation in the nation’s financial system.