Kano, Nigeria – Nigeria’s Deposit Insurance Corporation (NDIC) has reaffirmed its commitment to work closely with the Central Bank of Nigeria (CBN) to ensure that licensed financial institutions maintain strong corporate governance, risk management, and regulatory compliance.
Emily Osuji, Executive Director of Corporate Services at the NDIC, made the remarks on Monday during an NDIC stakeholders’ town hall meeting held in Kano, a major commercial city in northern Nigeria.
Okay News reports that Osuji delivered a keynote address at the meeting, which brought together financial sector stakeholders to discuss depositor protection and financial system stability.
“While the CBN and the NDIC continue to strengthen oversight, depositors also have a responsibility to remain vigilant and well-informed. Prudential regulation and supervision of licensed institutions is central to achieving stability in our financial system,” Osuji said.
She said feedback from stakeholders provided important insights into consumer protection issues, as well as the rights and responsibilities of bank customers within Nigeria’s financial system.
“Together, we can ensure that the Nigerian banking system continues to serve as a safe and reliable channel for savings, investment, and economic growth,” she added.
Osuji also urged depositors to ensure that their Bank Verification Numbers are properly linked to their bank accounts and identity records. She said this would help ensure timely access to insured deposits in the event of a bank failure.
“Our strapline, ‘Protecting your bank deposits!’ is more than mere words. It reflects our firm commitment to ensuring depositors can access their hard-earned savings should a bank fail,” she said.
She explained that the town hall meeting formed part of the NDIC’s broader effort to deepen engagement with stakeholders, improve public understanding of Nigeria’s Deposit Insurance System, and strengthen confidence in the country’s banking sector.
Also speaking at the event, Ahmad Umar, Controller of the NDIC Kano Zonal Office, said the meeting’s theme, “Strengthening Depositor Confidence: NDIC’s Role in Financial System Stability and Consumer Protection,” reflected the corporation’s mandate to safeguard depositors’ funds and reinforce trust in the financial system.
Hawwau Gambo, Head of Communications and Public Affairs at the NDIC, said the programme was designed to engage a broad range of stakeholders, including trade associations, professional bodies, civil society organisations, student groups, financial institutions, and relevant government agencies.
 has reaffirmed its commitment to work closely with the Central Bank of Nigeria (CBN) to ensure that licensed financial institutions maintain strong corporate governance, risk management, and regulatory compliance.){kind=link}