Osinbajo expresses confidence in NDIC new board
he described as an experienced lawyer and Umaru Ibrahim an experienced technocrat to steer the Corporation in the right direction.
While congratulating the Chairman and other members of the Board for their appointment, Osinbajo also commended the Management of the Corporation for prioritizing the interests of Nigerian depositors in its choice of the Bridge Bank option for the resolution of many banks in liquidation. “He also stressed the need for fresh ideas to produce a more resilient structure involving the NDIC and other relevant stakeholders to address the issue of Non-performing loans in the industry and warned that the federal government was not prepared to repeat the mistakes of the past.
It further added that: “Earlier, the Chairman of the Board of the Corporation had thanked the Vice President for his warm reception and recalled that the NDIC as a critical player in the Nigerian financial safety-net, had achieved remarkable success in the execution of its primary mandates of effective supervision of the insured banks, timely payment of insured deposits and the implementation of a robust and efficient failure resolution regime.
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