The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has urged the Institute of Chartered Accountants of Nigeria (ICAN) to incorporate courses on the Deposit Insurance System (DIS) into its professional programmes and course modules.
Hassan made the call during a courtesy visit by the Governing Council of the professional body, led by the President, Mr. Innocent Iweka Okwosa, to the corporation’s management in Abuja.
Hassan explained that including DIS courses within ICAN’s training programmes would enhance the understanding of DIS not only within the banking sector but also among professional accountants.
He described it as critical to bridging the knowledge gap on the mandate and achievements of DIS, its critical role in protecting depositors and its contribution to financial system stability. He added that it would also address misconceptions of the benefits and limitations of the deposit insurance system.
The deposit insurance expert further stressed the significance of public awareness in maximizing the impact and reach of the deposit insurance system throughout the general public and the financial sector as a whole. He stated that given the novel nature of the scheme in Nigeria and globally, collaboration with ICAN and other stakeholders had become imperative to strengthen the effectiveness of the Corporation’s operations to fully implement its mandate.
While congratulating Okwosa on his assumption of office as the 59th ICAN President, he encouraged him to ensure that chartered accountants uphold the Institute’s values of accuracy and integrity in all aspects of their work.
Hassan, who expressed the corporation’s management condolences to the ICAN leadership on the recent death of the first chartered accountant in Nigeria, Mr. Akintola Williams, reassured the Institute of the corporation’s unwavering support and partnership in furthering the practice of accounting in the country.
In addition, he lauded the ICAN’s commitment to maintaining zero tolerance for professional misconduct, adding that the stance of the professional body would continue to provide confidence to the corporation and other stakeholders in relying on the work of accountants in fulfilling their mandates.
In his remarks, Okwosa commended the corporation’s CEO good leadership and the professionalism he had instilled in the Corporation’s operations, adding that these has contributed to ensuring the safety and stability of the nation’s financial system.
Analysts believe that the continued collaboration between the NDIC and the professional holds potential for strengthening the knowledge base among accountants and financial professionals while fostering the growth and stability of Nigeria’s financial sector.
