The Senate Committee on Banking, Insurance and other Financial Institutions has said it will give more legislative support to the Nigeria Deposit Insurance Corporation (NDIC) in order to protect depositors’ money.
The assurance to protect depositors’ money was given at the end of a retreat participated by the Senate Committee on Banking, Insurance and Other Financial Institutions and the Nigeria Deposit Insurance Corporation (NDIC) held in Kaduna at the weekend.
According to the chairman of the committee, Senator Uba Sani who is representing Kaduna Central Senatorial District, the retreat with the theme, “Turning economic crisis to opportunities while ensuring deposits safety in Nigeria’s post-COVID-19 era,” was organised to look critically at the economy within the light of the devastating effect of COVID-19.
“The retreat, therefore, looked critically at the current state of the Nigerian economy in the light of the devastating impact of COVID-19 and the role NDIC must play to help stabilise the economy.
“Of particular interest to participants were the issues of how to ramp up financial inclusion in the country, fast-tracking the regulation of Financial Technology Companies (FINTECHS), ensuring that adequate safeguards are put in place before loans are granted in order to protect customers’ deposits.
“It is also intended to look at the spread of Micro-Finance and Mortgage Banks across the country in order to provide equal opportunities for Nigerians to access the stimulus packages for Micro, Small, and Medium Scale Enterprises.”
The retreat came up with actionable points on how NDIC can be very effective in carrying out its mandate and impacting on the Nigerian economy.
To this end, the Senate committee pledged to give NDIC all the legislative support it requires to succeed in its very important and strategic task of protecting depositors and guaranteeing payment of insured funds in the event of failure of insured institutions.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Plan To Destabilise Nigeria Is Real — SSS
THE State Security Service (SSS), on Friday, insisted that there were plans by some unnamed notable personalities in the country to subvert the nation. In a statement made available to newsmen in Abuja by its spokesperson, Dr Peter Afunanaya, the service pointed out that part of the orchestrations of the plotters was to engage in divisive acts as well as use inciting statements to pit one group against another in the country…
More Heads To Roll In UNILAG •Babalakin, Ogundipe Trade Words, Resumption In Jeopardy
MORE top officials of the embattled University of Lagos (UNILAG) are to be axed for alleged financial recklessness and mismanagement which consumed the institution’s Vice-Chancellor, Professor Oluwatoyin Ogundipe on Wednesday, the Governing Council, disclosed on Friday…
INEC Seeks Stakeholders Collaboration In Instituting Electoral Transparency
The Independent National Electoral Commission (INEC) has urged stakeholders in the electoral process to join the commission in deepening the use of technology and instituting a regime of transparency in electoral process. INEC Chairman, Prof. Mahmood Yakubu, represented by Mr Festus Okoye, INEC National Commissioner and Chairman, Information and Voter Education Committee, made the call at a virtual…
How Bandits, Terrorists, Other Criminals Get Their Weapons —Retired Col. Majoyeogbe, Ex-Commandant, Army Intelligence School
Colonel Olanipekun Majoyeogbe retired from the Nigerian Army after holding various posts, including Commandant, Nigerian Army Intelligence School and Commandant, SSS Training School. In this interview by SUYI AYODELE, the graduate of English from the Obafemi Awolowo University (OAU), Ile Ife, speaks on various issues bordering on the Nigerian security situation…
National Assembly Acting Clerk Advocates E-Parliament
Acting Clerk to the National Assembly, Mr Olatunde Amos Ojo, has again restated his determination to transform the National Assembly “for better deliveries of constitutional responsibilities that is of international standard in lawmaking, representation and oversight…”
and then