Bank liquidation: Deposit Insurance Funds vital for Nigeria’s financial sector stability – NDIC DG

The Managing Director of Nigeria Deposit Insurance Corporation, Sunday Thompson Sunday, has said Deposit Insurance Funds, DIFs, are captious to the stableness of the country’s fiscal sector.

He disclosed this successful a connection by NDIC’s spokesperson, Hawwau Gambo, aft a sojourn by the Director-General of the Budget Office of the Federation, Mr. Tanimu Yakubu, successful Abuja.

Sunday explained that the request to physique beardown DIFs is captious to enhancing the Corporation’s capableness to respond efficaciously to imaginable systemic crises successful the banking assemblage without relying connected authorities intervention.

He noted that portion fiscal crises whitethorn beryllium inevitable, the NDIC has consistently prioritized robust DIFs arsenic a cardinal constituent of its contingency readying and situation preparedness framework.

The NDIC brag further stated that the corp would proceed to fortify organization collaboration with the Budget Office of the Federation and align its operations with the nationalist budgetary framework.