NDIC Reaffirms Commitment to Corporate Governance Practices

James Emejo in Abuja

The Nigeria Deposit Insurance Corporation (NDIC) has reaffirmed that it has zero-tolerance policy towards financial impropriety and any actions that contravene its core values, corporate culture, and code of conduct.
The corporation also restated its commitment to upholding the highest ethical standards in its corporate governance practices, which, adding that, “we have diligently cultivated over the past three decades of our existence in fulfilling our role of depositor protection and contributing to financial system stability.”
The reassurance came against the backdrop of recent media reports alleging financial impropriety involving one of its staff members.

The NDIC in a statement issued by the Director, Communications and Public Affairs Department, Mr. Bashir Nuhu, stated that, “while we are assessing the veracity of the reported incident, the alleged events are unrelated to the operations of the corporation. Nonetheless, as a responsible federal institution, we are committed to uncovering the truth and addressing the matter in an appropriate manner.”

Nuhu, said following preliminary investigations into the allegations, “We have discovered that the staff member in question was previously employed at a commercial bank as an account officer to the federal government official referenced in the report before joining the NDIC in 2017.

“It is important to note that during her tenure at the bank, she asserts that she was not involved in any improper financial transactions with anyone. However, we remain diligent in our pursuit of any contradictory information and will not hesitate to take appropriate action should it arise concerning the staff member involved.”

He added that the corporation maintains a zero-tolerance policy towards financial impropriety and any actions that contravene our core values, corporate culture, and code of conduct.
He said, “It is important to note that during her tenure at the bank, she asserts that she was not involved in any improper financial transactions with anyone. However, we remain diligent in our pursuit of any contradictory information and will not hesitate to take appropriate action should it arise concerning the staff member involved.

“The NDIC maintains a zero-tolerance policy towards financial impropriety and any actions that contravene our core values, corporate culture, and code of conduct.
“We wish to emphasise that the NDIC is committed to upholding the highest ethical standards in our corporate governance practices, which we have diligently cultivated over the past three decades of our existence in fulfilling our role of depositor protection and contributing to financial system stability.”