ndic press release

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan has called on the Institute of Chartered Accountants of Nigeria (ICAN) to include courses on the deposit insurance system (DIS) into the Institute’s programs and modules to deepen the understanding of the scheme within the banking public.  

The NDIC Boss made the call during a courtesy call on the Corporation’s Management in Abuja by the Council Members of ICAN, led by the President of the Institute, Mrs. Comfort Eyitayo.  

According to Hassan, this would help to bridge the knowledge gap and address misconceptions on the benefits and limitations of the DIS, particularly its contributions to financial system stability.   

Mr. Hassan noted that public awareness was a critical factor towards ensuring the maximum impact and penetration of the benefits of the deposit insurance system on the general public and the financial system as a whole. He said that partnership with ICAN and other stakeholders to promote public awareness of the DIS had become necessary in view of the novel nature of the scheme in Nigeria and world at large, adding that the Corporation would continue to place premium on collaboration with its strategic stakeholders in the overall discharge of its mandate.  

The NDIC Boss thereafter, congratulated Mrs. Eyitayo on her assumption of office as the 57th ICAN President. He urged her to ensure chartered accountants continue to uphold the ideals of accuracy and integrity as enshrined in the Institute’s motto. He assured the Institute of the Corporation’s continued support and collaboration.

In her remarks, Mrs Eyitayo acknowledged the invaluable contributions of the NDIC in stabilizing the financial system in Nigeria. For an efficient financial services industry, the ICAN President stressed the need to sustain depositors’ trust and confidence by continuous reassurance of the safety of their deposits at any given time.

She expressed the commitment of the Institute towards the continued partnership with the Corporation to achieve greater awareness of the deposit insurance system amongst members of the Institute.


Bashir A. Nuhu

Director, Communication & Public Affairs Department

Sunday, 11th July, 2021