Yan Nigeria
The Senate on Thursday confirmed Oludare Sunday as the Managing Director and Kabir Kataka as Executive Director of the Nigeria Deposit Insurance Corporation (NDIC).
Naija News reports that the confirmation followed the consideration and adoption of a report presented by the Senate Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Adetokunbo Abiru (APC, Lagos East).
Presenting the committee’s findings at plenary, Abiru urged his colleagues to approve the nominations forwarded by President Bola Tinubu in May.
“The Senate received and considered the report of the committee on the confirmation of the nominations for appointment as Managing Director and Executive Director of the Nigerian Deposit Insurance Corporation,” Abiru said.
He added that the nominees satisfied all requirements and were found competent to occupy the positions.
NDIC plays a vital role in ensuring public confidence and stability in Nigeria’s banking system, providing insurance coverage for depositors and supporting risk management in the sector.
With Thursday’s confirmation, Oludare and Kataka are expected to assume their roles immediately, with stakeholders hopeful that their leadership will enhance the corporation’s operational efficiency and bolster confidence in Nigeria’s financial institutions.
Recall that President Tinubu submitted the nominations in line with statutory provisions guiding appointments into key federal financial regulatory agencies.
The Senate President, Godswill Akpabio, had read the president’s request during plenary and referred it to the relevant committee for legislative action.
The new NDIC management team is expected to support ongoing economic reforms and contribute to restoring trust in Nigeria’s financial system amidst global uncertainties.
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