JUST IN: NDIC Partners EFCC To Curb Financial Crimes In Banks

NDIC Partners EFCC To Curb Financial Crimes In Banks

NDIC Partners To Curb Financial Crimes In Banks


The managing director and CEO of the Deposit Insurance Corporation (NDIC) Mr. Bello Hassan, has said the corporation is committed to ensuring that people who contribute to the failure of banks are properly investigated and prosecuted.

Hassan made the remark during a courtesy visit of the NDIC management to the chairman of the (EFCC), Mr. Ola Olukoyede at the EFCC headquarters in , according to a statement that was issued by NDIC yesterday.

Mr. Hassan explained that the NDIC plays a critical role in combatting financial crimes within the banking sector through its mandate which includes supervision and liquidation of licensed banks. The ultimate objective, he added, is to protect depositors' funds and ensure the stability of the financial system.

He commended the EFCC for its relentless efforts in the against and financial crimes emphasising the indispensable role it plays as a key member of the Taskforce on Implementation of the Failed Banks Act which is chaired by the NDIC.

Mr. Hassan elaborated on the existing partnership between the two organisations which led to the establishment of the NDIC Help Desk in the EFCC in August 2022. As a , he added, a total number of 10 high profile cases referred to the Commission are currently under investigation.

The statement said Hassan called for enhanced collaboration in the recovery of Depositors' funds to ensure that liquidation dividends are paid to depositors whose monies were lost as a result of bank failures.

He, therefore, solicited for the return of recoveries made by the EFCC on behalf of the NDIC to the corporation's coffers in order to facilitate the timely reimbursement of depositors.

The EFCC chairman Mr. Ola Olukoyede emphasised the interconnection between criminal activities and bank failures, urging NDIC and the () to intensify oversight to prevent the risk of bank failure.

He pledged the EFCC's commitment to deepening collaboration and synergising efforts in combating financial crimes, thereby safeguarding the integrity of Nigeria's banking sector.


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