NDIC partners ICPC against corruption

NIGERIA Deposit Insurance Corporation (NDIC) has reconstituted it’s Anti-Corruption and Transparency Unit (ACTU) with Managing Director, Alhaji Umaru Ibrahim saying there is zero tolerance for all forms of malpractices within the Corporation and in all the initiatives it has taken to fully implement its mandate.

Alhaji Ibrahim stated that based on its mandate and supervisory activities, the NDIC is at the forefront of the fight against corruption through the enforcement of good corporate governance, transparency and accountability to minimise the risk of bank failure in order to protect depositors and ensure safety and soundness of the financial system.

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According to statement by Head, Communication & Public Affairs, NDIC, Muhammed Ibrahim the banking regulatory boss described the inauguration of the NDIC Anti-Corruption and Transparency Unit (ACTU) as good development as it will further strengthen the Corporation’s resolve and its partnership with other government agencies involved in the anti-corruption fight towards promoting credible and effective service delivery in the public sector.

To that end, Ibrahim further noted that the NDIC has been organising annual capacity building seminars for strategic stakeholders such as the ICPC, Economic and Financial Crimes Commission (EFCC), Special Fraud Unit and Nigeria Financial Intelligence Unit of the Nigeria Police Force in the area of financial crime investigation.

He also expressed the readiness of NDIC to sustain its participation in the capacity building programmes organised by the ICPC Training Academy.

Responding, the Acting Chairman of ICPC Alh. Abdullahi Bako, said ACTU was created by the ICPC in 2001 in all government agencies to curb corrupt practices and to establish transparent processes and procedures in the public sector.

He commended the NDIC for its commitment to transparency and accountability in the discharge of its regulatory responsibilities.
He concluded his remarks by expressing the hope that the inauguration of the unit would create synergy for effective collaboration between the two agencies.