CBN, NDIC Pledge Stronger Collaboration to Safeguard Nigeria’s Financial System

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reaffirmed the apex bank’s commitment to deepening collaboration with the Nigeria Deposit Insurance Corporation (NDIC) to strengthen the country’s financial system.

Mr. Cardoso made this known while receiving the newly appointed management of the NDIC, led by its Managing Director/Chief Executive Officer, Mr. Thompson O. Sunday, during a courtesy visit to the CBN headquarters in Abuja.

While congratulating the NDIC team on their appointments, the CBN Governor emphasized the critical role of inter-agency cooperation in addressing challenges within Nigeria’s evolving financial landscape. He noted that a coordinated approach is vital to maintaining confidence and stability in the banking sector.

In his remarks, the NDIC MD/CE, Mr. Thompson Sunday, commended the CBN’s ongoing reforms in the foreign exchange market and its efforts toward bank recapitalization. He assured the apex bank of NDIC’s commitment to a stable financial system through active partnership, joint crisis preparedness, and policy alignment.

The meeting reinforced the shared vision of both institutions in enhancing regulatory oversight and protecting the interests of depositors.