Business

NDIC has zero tolerance for corruption – Managing Director

NDIC has zero tolerance for corruption – Managing Director

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC) Umaru Ibrahim has said that the corporation as a major component of Nigeria’s financial safety-net arrangement does not tolerate any form of corruption or malpractice.

Ibrahim made the assertion on Tuesday, during the inauguration of four new members of the NDIC Anti-Corruption and Transparency Unit (ACTU) by the chairman of the Independent Corrupt Practices and other Related Offences Commission (ICPC).

The Managing Director who was represented by the NDIC Executive Director Corporate Services, Hon. Omolola Abiola-Edewor said the Corporation has established a culture of zero tolerance for corruption by implementing strict operational procedures and guidelines that are geared towards instilling transparency and accountability in the work place.

He described the inauguration of the new members to the Corporation’s ACTU as an extension of the NDIC’s commitment towards maintaining high anti-corruption standards which, he said, had been imbibed by the Corporation’s employees and strengthened by the core values of honesty, respect and fairness, discipline, professionalism, teamwork and passion.

Ibrahim added that ACTU of the NDIC had been involved in the preliminary investigation and collaboration with ICPC, sensitization of the Corporation’s members of staff, identification and improvement of internal controls to avert fraudulent practices through the thorough analysis of its systems, as well as by ensuring maximum compliance with its policies and procedures.

According to him, the inauguration of the new members further strengthened the Corporation’s partnership with the ICPC and other government agencies involved in the anti-corruption fight towards promoting credible and effective service delivery in the public sector.

In his remarks, the ICPC boss represented by an Assistant Director and Head of ICPC Anti-Corruption Unit, Mr Justin Kuatsea, said ACTU was created in ICPC in 2001 and established in other Government Agencies to curb corrupt practices as well as to implement transparent processes and procedures in the public sector.

While expressing belief that the addition of new members to the unit would improve synergy and effective collaboration between the unit, NDIC and the ICPC, he commended the NDIC for its commitment to transparency and accountability both in its operations and in the banking sector.

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