NDIC Reiterates Commitment to FICAN

The Nigeria Deposit Insurance Corporation (NDIC) has assured that it will continue to support capacity building initiatives in the media industry, especially in areas covering bank failures and deposit insurance.

Managing Director/Chief Executive Officer NDIC, Mr. Hassan Bello, gave this assurance during a recent courtesy visit by the executives of the Finance Correspondents Association of Nigeria (FICAN) in Abuja.

Bello said the corporation launched its capacity building workshop for finance correspondents and business editors in 2002, as a veritable means of building capacity in the media industry especially on the workings of deposit insurance system in Nigeria as well as other topical issues in the Nigerian financial services sector.

“Ever since the commencement of the capacity building program the symbiotic relationship between NDIC and financial journalists has remained cordial,” he added.

He said through this platform, the horizon and knowledge of deposit Insurance of members of FICAN has broadened while the corporation has enjoyed robust and informed reportage of its mandate and activities.

“You have demonstrated such an understanding and support that cannot be quantified. This means the collaboration has been a win-win situation for both NDIC and FICAN.
“It is on this note that I want to commend your entire membership in particular and the media in general for this wonderful relationship,” he added.

He said the desired level of knowledge of the deposit insurance system in Nigeria among different strata of the banking public has not been achieved, as evidenced by the result of a survey carried out by NDIC in 2019/2020.

This is why he added, the corporation would continue to collaborate with the media in order to Increase this awareness, stressing that there is need for increased collaboration between regulatory agencies and the media.

Also speaking, the executive director operation NDIC, Mr. Mustapha Ibrahim, commended the delegation drawn from Lagos and the Abuja chapters of FICAN for their efforts in maintaining the existing relationship between the two bodies.