Job losses loom as NDIC issues directive on employment of relatives and spouses

• The Nigerian Deposit Insurance Corporation is the assemblage charged with protecting Nigerian depositors and ensuring a unchangeable fiscal system
• The corp has issued a circular concerning its employment regulations, explaining that it volition physique a transparent workforce
• NDIC has ordered afloat disclosure and wants unit who are straight affected by the caller directive to resign immediately

Legit.ng journalist Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful business reporting crossed integer and mainstream media.

The Nigeria Deposit Insurance Corporation (NDIC) has issued updated employment directives to fortify interior governance and accountability.

According to a circular dated Wednesday, May 21, 2025 (Ref: NDIC/HRD/CIR/23/VOL III/210), the corp prohibits hiring unit members who are relatives by humor oregon marriage, including parent-child and spouses.

This argumentation aims to forestall conflicts of involvement and beforehand transparency wrong the organisation.

Staff affected by the caller directive are expected to tender their resignation. Photo credit: NDIC
Source: Facebook

The circular reads;

“This is to punctual each unit that the Board of Directors astatine its 117th Meeting held connected Tuesday 1st, Wednesday 2nd, Thursday 3rd, and Friday 4th March, 2022 directed that the corp maintains a strict argumentation prohibiting the employment of unit with household relatives successful the Corporation. This includes parent/child, spouses and co-parenting.”

What does the NDIC directive mean?

The NDIC committee of directors had decided astatine a gathering held successful March 2022 that it could not employment relatives, by humor oregon by marriage.

This means that wherever a genitor and child, oregon a couple, oregon different relatives are moving with the corporation, 1 of them would beryllium advised to resign, the GUARDIAN reports.

The circular issued connected Wednesday reads;

“In enactment with the existing practice, if a genitor and kid oregon couples are co-employees, 1 of them should beryllium advised to resign. This argumentation aims to debar immoderate imaginable struggle of interest, beforehand transparency and support a just and unbiased enactment environment.”

NDIC calls for afloat disclosure

By this circular, the NDIC has besides called connected unit to disclose immoderate existing household relations wrong the corp to the Human Resources section immediately.

The NDIC is the assemblage charged with protecting the deposit of Nigerian slope customers and ensuring a unchangeable situation successful the banking industry by taking implicit the assets, and liquidating aforesaid to wage the customers and different stakeholders.

The NDIC Act 2023 already provides that a subordinate of the NDIC committee of directors should suffer his oregon her spot if;

"found to person failed to disclose to the Board, his involvement oregon the involvement of immoderate household subordinate oregon adjacent associate, known to him successful immoderate insured instauration astatine the clip of his appointment."

The latest directive present extends this beyond the insured institutions to see employees wrong the NDIC itself.

The absorption asked the unit for knowing and practice to support a transparent and nonrecreational enactment environment.

NDIC takes implicit 3,000 plots of onshore from a failed bank

Recall that the NDIC precocious announced that it had taken implicit respective lodging estates antecedently owned by the defunct AHOCOL Savings and Loans Limited.

In a nationalist announcement obtained from its website, the NDIC stated that the listed lodging estates were assets of AHOCOL Savings and Loans, which is presently undergoing liquidation.

The NDIC is the assemblage officially charged with protecting banking customers' deposit, and the latest directive is to guarantee a transparent workforce. Photo credit: Pius Utomi Ekpei
Source: Getty Images

As the appointed liquidator, the Corporation present holds ineligible ownership of these properties and has assumed afloat work for their medication till whenever they are to beryllium liquidated.

NDIC pays Heritage Bank Depositors

In related news, the NDIC has yet kept to its committedness to wage Heritage Bank depositors successful April 2025, much than 9 months since the slope was officially unopen down.

The insurer confirmed that disbursements person been made and urged those who are yet to person outgo to lodge a ailment connected its website.

Legit.ng reported that the NDIC besides sent an important connection to the creditors and shareholders of the now-defunct Heritage Bank.

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Source: Legit.ng