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NDIC Seeks Inclusion Of Deposit Insurance System Into ICAN’s Programmes

The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has charged the leadership of the Institute of Chartered Accountants of Nigeria (ICAN) to include courses on the deposit insurance system (DIS) into the Institute’s programmes and modules in order to deepen the understanding of the scheme by the banking public.

Hassan made the call when the professional body’s Council members, led by the President of the Institute, Mrs. Comfort Eyitayo, paid a courtesy call on the corporation’s management in Abuja.

A statement by the corporation’s Director, Communication & Public Affairs Department, Mallam Bashir Nuhu, quoted the NDIC boss as saying that inclusion of the scheme will help to bridge the knowledge gap and address misconceptions on the benefits and limitations of the DIS, particularly its contributions to financial system stability.

The deposit insurance expert noted that public awareness was a critical factor towards ensuring the maximum impact and penetration of the benefits of the deposit insurance system on the general public and the financial system as a whole.

He said that partnership with ICAN and other stakeholders to promote public awareness of the DIS had become imperative in view of the novel nature of the scheme in Nigeria and world at large, adding that the corporation would continue to place premium on collaboration with its strategic stakeholders in the overall discharge of its mandate.

Hassan congratulated Mrs. Eyitayo on her assumption of office as the 57th ICAN President and urged her to ensure chartered accountants continue to uphold the ideals of accuracy and integrity as enshrined in the Institute’s motto. He assured the Institute of the Corporation’s continued support and collaboration.

In her remarks, Mrs. Eyitayo acknowledged the invaluable contributions of the corporation in the nation’s financial system stability.

For a more robust efficient financial services industry, the ICAN President stressed the need to sustain depositors’ trust and confidence by continuous reassurance of the safety of their deposits at any given time.

She expressed the commitment of the Institute towards the continued partnership with the Corporation to achieve greater awareness of the deposit insurance system amongst members of the Institute.

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