NDIC urges retired public servants, bankers to acquire MFB licenses

NDIC urges retired public servants, bankers to acquire MFB licenses


The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has charged retired civil servants to acquire Agency Banking and Micro Finance Bank (MFB) licences.

The NDIC chief executive gave the charge while receiving a delegation of the Alumni Association of the National Institute (AANI) which paid a courtesy visit on him at the Head Office of the Corporation, on Tuesday.

He said the action will enable them make modest contributions to the growth and promotion of these services in their respective communities.

Ibrahim disclosed that the Corporation was established in 1989 to promote public confidence in the banking industry; contribute to the stability of the financial system, as well as ensure an orderly resolution of failed financial institutions.

According to him, presently about 40% of Nigerians are either financially excluded or operate outside the formal financial system.

He therefore urged the Association to partner with the Corporation to accelerate the pace of financial literacy and financial inclusion among the Nigerian public.

The NDIC boss disclosed that the Corporation, in close collaboration with the Central Bank (CBN), will continue to support the introduction of affordable products and services not only to the general public, but also to vulnerable women and dwellers in rural communities.

In furtherance of its elaborate initiatives towards achieving the desired level of Financial Inclusion in the country, the NDIC Boss expressed the commitment of the Corporation to support the introduction of new channels of providing financial services such as Agency Banking, Payments Service Banks, and mobile banking among others which, he said, will enable small depositors have access to financial services across the Country.

The AANI president and former Inspector General of Police, Mohammed Dikko Abubakar, in his response, disclosed that the purpose of the courtesy call was to identify with the way the NDIC boss, who is also an alumni of the National Institute, had piloted the affairs of the Corporation since his appointment.

He assured the Ibrahim that the Association will heed his call and is ready to partner with the NDIC to sensitise its members on the importance of financial inclusion to achieve its goals for the rapid socio-economic development of the country.

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