The Nigeria Deposit Insurance Corporation (NDIC) is unwavering in its dedication to holding accountable those responsible for the collapse of banks. During a recent meeting at the Economic and Financial Crimes Commission (EFCC) headquarters in Abuja, NDIC Managing Director Bello Hassan reaffirmed the organization’s commitment to investigating and prosecuting individuals involved in bank failures.

Hassan highlighted the crucial role of the NDIC in combating financial crimes within the banking sector, emphasizing its responsibilities in bank supervision and the liquidation of licensed banks. The primary goal of the NDIC is to safeguard depositors’ funds and maintain the stability of the financial system.

Commending the EFCC for its relentless efforts in fighting corruption and financial crimes, Hassan stressed the importance of collaboration between the two organizations. The EFCC is a key member of the Taskforce on Implementation of the Failed Banks Act, chaired by the NDIC.

Hassan called for increased cooperation in recovering depositors’ funds to ensure that those who lost money due to bank failures receive their entitled dividends. He urged the EFCC to return any funds recovered on behalf of the NDIC to facilitate the prompt reimbursement of depositors.

EFCC Executive Chairman Ola Olukoyede emphasized the link between criminal activities and bank failures, urging the NDIC and the Central Bank of Nigeria (CBN) to enhance oversight to prevent future bank collapses. Olukoyede pledged the EFCC’s commitment to strengthening collaboration with the NDIC in combating financial crimes and upholding the integrity of Nigeria’s banking sector.

In conclusion, the NDIC and EFCC are working together to ensure accountability, protect depositors’ funds, and maintain the stability of Nigeria’s financial system. Through collaboration and joint efforts, these organizations aim to combat financial crimes and safeguard the integrity of the banking sector.