NDIC Hails Judiciary on Prosecution of Failed Bank Cases

James Emejo in Abuja

The Managing Director/Chief Executive Officer, Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan has commended the judiciary and Nigerian Bar for their collaboration with the corporation in the diligent and timely prosecution of failed bank cases over the years.

Hassan gave the commendation in Abuja at the sensitization seminar for external solicitors of the corporation with the theme: “The Role of NDIC External Solicitors in the Execution of the Mandate of the Corporation”.

 The NDIC boss noted that the support from its external solicitors and the judiciary was evidenced by heightened diligence in handling the corporation’s cases, and better-informed judgments from the court, bar, and the bench, resulting in increased awareness of the benefits of the deposit insurance scheme in the public domain.

Hassan, in a statement by NDIC Director, Communication and Public Affairs Department, Bashir Nuhu, noted that the seminar was a continued attempt to consolidate the gains recorded through previous exercises which fostered a better understanding of the Deposit Insurance Scheme (DIS) thereby aiding external solicitors in prosecuting its cases in the interest of bank depositors and the Nigerian financial system.

While noting that recovery of debts and realization of assets of closed banks were critical to the achievement of the corporation’s mandate as a liquidator, the MD stressed that the NDIC needed to continue collaborating with the judiciary and external solicitors in handling parties’ suits against the corporation, as well as the corporation’s cases against debtors towards recovering the debts owed to banks under liquidation.

He, therefore, called on the external solicitors to continue to put in their best in prosecuting the corporation’s cases notwithstanding the challenges confronting them.