Members of the newly inaugurated Board of the Nigeria Deposit Insurance Corporation (NDIC) have stated their commitment to the formulation of sound policies to enhance the safety and stability of the nation’s financial system as a way of justifying the confidence reposed in them through their appointment.

The Chairman, Mrs Ronke Shokefun stated this at the opening ceremony of the maiden retreat for members of the Board in Abuja. As a critical member of the Nigeria financial safety net, Mrs Shokefun said the new Board is committed to providing the NDIC with the desired leadership required to enable the nation achieve its goal of becoming one of the top twenty economies in the world by Year 2020.

In her words:  “As people of proven integrity, we are to collectively paddle the boat of NDIC in particular and that of the nation’s banking sector in general to safety. We owe this very important organisation and the nation that duty in order to justify the confidence reposed in us by His Excellency, President Muhammadu Buhari”.

The Chairman described the role of the Board as critical in the achievement of the Corporation’s mandate, adding that the retreat will enable members gain full insight into the Corporation’s mandate, its operations, achievements and challenges. She concluded that the induction program will provide the Board with the in-depth Knowledge required for the formulation of policies to ensure enhanced service delivery by the Corporation.

Earlier before the commencement of the retreat, the NDIC Managing Director/Chief Executive, Umaru Ibrahim expressed the hope that the retreat will provide the new Board with the critical information and insight on the activities of the Corporation ahead of their assumption of office.