By Muhammad danjuma
@ katsina times
The Nigeria Deposit Insurance Corporation has reiterated its commitment to strengthening its Deposit Insurance Funds (DIFs) as part of efforts to enhance the stability and resilience of Nigeria’s financial system.
The Managing Director and Chief Executive Officer of the Corporation, Thompson Oludare Sunday, stated this during a courtesy visit to the Director-General of the Budget Office of the Federation, Tanimu Yakubu, in Abuja.
According to Sunday, building strong Deposit Insurance Funds remains critical to improving the Corporation’s ability to respond effectively to potential crises in the banking sector without depending on government intervention.
He explained that although financial crises may be unavoidable, the NDIC has consistently prioritised robust DIFs as a major component of its contingency planning and crisis preparedness strategy.
Sunday noted that the Corporation’s preparedness enabled it to commence payments to depositors of Aso Savings & Loans and Union Savings & Loans within 72 hours after the revocation of their operating licences by the Central Bank of Nigeria in December 2025.
He further stated that the NDIC would continue to strengthen collaboration with the Budget Office of the Federation while aligning its operations with the national budgetary framework.
The NDIC boss also reaffirmed the Corporation’s commitment to supporting the Federal Government’s vision of building a one-trillion-dollar economy by 2030 through evidence-based planning and effective financial system regulation.
In his remarks, Yakubu commended the NDIC for its transparency in managing the Deposit Insurance Funds and urged the Corporation to adopt technology-driven investment strategies to further strengthen the funds for the protection of depositors in the event of bank failures.
He also advised the NDIC to benchmark its investment instruments against global best practices adopted by other deposit insurance institutions in order to further consolidate its funding framework.
The courtesy visit was attended by members of the NDIC executive management team, including Executive Director, Corporate Services, Emily Osuji, and Executive Director, Operations, Kabir S. Katata.
