The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has stressed the need for collaboration between regulators and operators in the banking system for sound ethics and professionalism in the industry.
He made the call during a courtesy visit by the Executive Council members of the Chartered Institute of Bankers (CIBN) led by the President and Chairman of Council, Bayo Olugbemi.
The NDIC boss observed that although there have been improvements in risk management practice in the banking industry, there is a need for the Institute to strengthen its efforts towards ensuring that professionals comply with the high standards expected of them.
Hassan explained that the vision of the institute aligns with that of the Corporation which focuses on the protection of depositors through the provision of deposit insurance and assisting monetary authorities in formulating sound banking policies.
“These mandates are consistent with the objectives of CIBN as the only professional body that is charged with the responsibility of regulating banking professionals in Nigeria. Therefore, we will continue to work together as partners in ensuring that the system remains safe, sound and stable.”
Olugbemi acknowledged the Corporation’s active participation in the CIBN as a permanent member of the Council and the membership of its staff especially at various levels of the CIBN committees.
He added that the Corporation had made substantial and valuable inputs to the amendment of the CIBN Act which is before the National Assembly and solicited for the Corporation’s support in the legislative process.
He also pledged the institute’s commitment collaboration and advocacy to promote the role of the Corporation in the financial system.