NDIC Boss Wants Deposit Insurance in ICAN’s Curriculum

The Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has called on the Institute of Chartered Accountants of Nigeria (ICAN) to include courses on the deposit insurance system (DIS) into the institute’s programmes in order to deepen the understanding of the scheme within the banking public.

He said this would help to bridge the knowledge gap and address misconceptions on the benefits and limitations of the DIS, particularly its contributions to financial system stability.

Hassan, made the appeal when he received the council members of ICAN, led by its president, Mrs. Comfort Eyitayo, on a courtesy visit to the corporation.

He said awareness remains a critical factor towards ensuring the maximum impact and penetration of the benefits of the deposit insurance system on the public and the financial system.

In a statement by Director, Communication and Public Affairs Department, Mr. Bashir Nuhu, the NDIC boss pointed out that partnership with ICAN and other stakeholders to promote public awareness of the DIS had become necessary in view of the novel nature of the scheme in the country and the world at large.

He said the corporation would continue to place premium on collaboration with its strategic stakeholders in the overall discharge of its mandate.

Hassan, thereafter congratulated Eyitayo on her assumption of office as the 57th ICAN President and urged her to ensure chartered accountants continued to uphold the ideals of accuracy and integrity as enshrined in the Institute’s motto.

He also assured the institute of the corporation’s continued support and collaboration.

In her remarks, Eyitayo acknowledged the invaluable contributions of the NDIC in stabilising the financial system in Nigeria. She said for an efficient financial services industry, there was the need to sustain depositors’ trust and confidence by continuous reassurance of the safety of their deposits at any given time.

She further expressed the commitment of the institute towards the continued partnership with the corporation to achieve greater awareness of the deposit insurance system amongst members of the institute.