Home Business FG committed to a stable financial system - NDIC

FG committed to a stable financial system – NDIC

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Current update as the Federal Government is committed to ensuring a stable financial system in the country, Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation, (NDIC), Umaru Ibrahim, has said.

Meanwhile, the NDIC boss stated this during a seminar organised by the corporation for management staff of the Federal Ministry of Finance, in Abuja on Monday.

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Ibrahim stated that the NDIC would collaborate with the finance ministry in order to achieve optimal performance, and ensure the stability of Nigeria’s financial system.

The MD said that the seminar was apt considering the changes in the nation’s financial system, and the decisive policy actions and reforms often implemented to achieve the desired outcomes.

Ibrahim said: “The FMF is a core pillar of Nigeria’s Financial Safety-Net as the Guarantor of the Lender-of-Last-Resort. Hence, it is necessary for the FMF to constantly engage in capacity building drive in a bid to upscale and harness the human resource potentials within the Ministry to be able to play the role of formulating and implementing fiscal policy in the economy.

“This seminar helps in fostering collaboration and knowledge-sharing between the staff of the Federal Ministry of Finance (FMF) and its agencies, in a bid to achieve optimal performance.

“The mandate of the NDIC is very unique to it. Hence, it is very important that the NDIC educates and enlightens all its stakeholders on its activities.

“It is therefore a step in the right direction to organize this seminar as an avenue to create proper understanding of its activities by the staff of the FMF that are saddled with the task of supervising it.”

The Permanent Secretary of the Federal Ministry of Finance, Mahmoud Isa-Dutse, who was represented by the Deputy Director of Home Finance of the Ministry of Finance, Mr. A.F. Ebeda, explained that aside the fact that the workshop is a really good opportunity for members of the FMF to update themselves on what is going on in the financial system, it is also a good platform to collaborate with NDIC to enhance capacity and share ideas.

He added that that Fintech has humongous potentials to move financial services forward, especially now that the world is galvanizing towards a digitized system of rendering financial services.

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