NDIC Boss Harps on High Ethical Standards in Banking Industry

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, yesterday stressed the need for banking professionals to comply with the high standards in ethics and professionalism in the industry.

He described it as critical to maintaining the safety and soundness of the banking system.

Hassan said though there had been some improvements in risk management practices in the banking industry, there’s the need to strengthen current efforts aimed at ensuring that banking professionals comply with the high standards.

He stated this when he received executive council members of the Chartered Institute of Bankers (CIBN) led by the President/Chairman of Council, Mr. Bayo Olugbemi, which paid him a courtesy visit in Abuja.

Hassan also emphasised the need for effective collaboration between regulators and operators in the banking system for the establishment of sound ethics and professionalism in the banking industry.

He, however, pointed out that the vision and mission of the institute aligned with that of the corporation, which focuses on the protection of depositors through the provision of deposit insurance in licenced banks and deposit taking financial institutions and assisting monetary authorities in formulating sound banking policies, which he said contributed to the safety and soundness of the banking system.