today-is-a-good-day
4.3 C
New York
Friday, March 29, 2024
HomeBankingBuhari reappoints Ibrahim as NDIC MD

Buhari reappoints Ibrahim as NDIC MD

President Muhammadu Buhari has re-appointed Umaru Ibrahim as the Managing Director/ Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC) for tenure of five years.

Source said Ibrahim  received the reappointment letter on Thursday, December 31st and resumed office yesterday Monday.

Ibrahim has concluded his first term tenure of 5 years as the MD NDIC on Tuesday, December 8, 2015.

NDIC is a statutory body and a key component of the Nigerian financial safety -net.

It was established under the NDIC Act No.22 of 1988  with the key role of providing financial guarantee to depositors of licensed deposit-taking financial institutions comprising Deposit money Banks, including non-interest banks, Microfianace Banks and Primary Mortgage Bank in the unlikely events of failure.

Advertisements

The corporation is responsible for protecting depositors and also promote public confidence thereby contributing to the financial system stability in Nigeria.

The effective bank examination undertaken by the NDIC under his watch contributed immensely to the healthy state of the Deposit Money Banks (DMBs) in the country.

Advertisements

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Recent Comments

Onuegbu Chuks Theophilus on Mikel Obi quits Super Eagles
Thomas H. Anderson on Roman Goddess_3
Oladimeji Emmanuel on Obama sends investors to Buhari