The Honourable Chief Judge of the Federal High Court;
Honourable Justices of the Court of Appeal here present,
Honourable Judges of the Federal High Court,
Erudite members of the Inner and Outer Bar,
Ladies and Gentlemen!
It is an honour and privilege to address such a dignified gathering of distinguished legal luminaries, the beacons of the Nigerian Judiciary. I am sincerely grateful to the members of the Nigerian Bench and the Bar, our distinguished invited guests and our facilitators for finding time out of your tight schedule to attend this Sensitization Seminar for stakeholders on the Challenges to Deposit Insurance Law and Practice. Indeed, this is evidence of the fact that we have committed partners in the Nigerian Bench and the Bar in our endeavour of becoming one of the leading Deposit Insurers in the world.
One of the major challenges confronting the Corporation in the discharge of its mandate is public awareness. We have observed with concern that most of the Nigerian public have a misconceived perception of the Corporation and its statutory mandates. In order to curb this situation, we have invested time and valuable resources in ensuring that this negative trend is reversed in line with our Strategic Plan 2011 – 2015.
The Corporation had identified various important stakeholders and had made efforts to collaborate on issues that pertain to the stability of the Nigerian financial system, with particular emphasis on Deposit Insurance and the Federal High Court is one of such foremost stakeholders.
My Lords, distinguished ladies and gentlemen, you would recall that a similar seminar was held on the 11th of March, 2013 where about fifty-three (53) Judges of the Federal High Court participated actively. The Corporation received the overwhelming support of their Lordships. Since then, we have observed with pleasure that the goal of these sensitization seminars are being achieved in the form of better informed judgements from the Courts, encouraging feedback from both the bar and the bench, and increased awareness of the general public on the dynamics of deposit insurance.
This second run of the sensitization seminar on the Challenges to Deposit Insurance Law and Practice in Nigeria is a concerted attempt by the Corporation to consolidate on the gains recorded previously and also strengthen its relationship with the Court in the interest of bank depositors and the Nigerian financial system as a whole. It is also in recognition of the fact that some of the Judges that benefitted from the last Judges Seminar have been elevated to the Court of Appeal or retired and new Judges who did not benefit from the Seminar have been appointed to fill the vacancies.
At this seminar, some of the challenges faced by the Corporation will be highlighted and there will be brainstorming sessions on the issues raised. We welcome your suggestions and contributions; and furthermore, we pray that at the close of the Seminar, we as stakeholders and partners would be better informed and positioned to surmount these challenges.
Thank you for your attention.
Nigeria Deposit Insurance Corporation