NDIC Wins Banking Service Excellence Prize
BY COBHAM NSA, ABUJA – The Nigeria Deposit Insurance Corporation (NDIC) has added another feather to its hugely decorated cap with the Special Recognition and Commendation Award for Excellence in Banking (Public Service) conferment at the 2017 Business Day Banking Awards.
The Corporation was adjudged as “an outstanding public service provider” with sterling performance that soared above its peers in effective leadership and accomplishments at the ceremony held on October 14, 2017.
According to a letter of commendation to NDIC, the Awards Committee, anchored by Business Day Research and Intelligence Unit (BRIU) said the Corporation “has also pursued the observance of corporate governance principles in the Nigeria’s financial system” with robust commitment to transparency and accountability.
The organisers said that in making its choice, the Award Committee, comprising eminent Nigerians, reviewed the pragmatic and tangible transformations the NDIC brought into management and execution of its core mandate, including mitigation of corruption; and insider abuse as well as tackling Non-Performing Loans (NPLs) in the financial system.
Declaring that the sterling performance and other milestone achievements earned NDIC the public esteem, the organisers said the Corporation has over the years implemented good institutional transformation policies, resulting in friendly business environment; expansion of opportunities; and a huge contribution towards the nation’s socio-economic growth and development.
NDIC’s Managing Director and Chief Executive, Alhaji Umaru Ibrahim, who received the award on behalf of the Corporation, described it as a challenge to further raise the bar of excellent performance in the discharge of its statutory mandate.
Ibrahim attributed the feat to the Corporation’s rebranding in 2013, adding that the development engineered the overhauling of its processes; procedures; systems; and operational methods in line with global best practices on deposit insurance.
The NDIC boss expressed delight that management’s initiatives were paying off with recognitions coming from home and abroad, pledging that greater efforts would be geared towards sustaining the laudable strides so far made the Corporation
A statement signed by H. O. Bakare for Head, Communication and Public Affairs, NDIC, said the Corporation had in 2014 carted home the International Association of Deposit Insurers (IADI) award as the Best Deposit Insurance Organisation of the Year under Category 2 of the IADI Core Principles on Compliance and International Collaboration.
Similarly, the Corporation’s Managing Director and Chief Executive was in 2016 re-elected unopposed into the IADI Executive Committee for a term of three years based on his outstanding performance in his first term that ran from 2013 to 2016.
