NDIC Pledges Stronger Deposit Insurance Fund to Bolster Financial System Stability

The Nigeria Deposit Insurance Corporation (NDIC) has restated its commitment to strengthening its Deposit Insurance Funds (DIFs) to enhance the stability and resilience of Nigeria’s financial system.

Speaking during a courtesy visit to the Director-General of the Budget Office of the Federation, Mr. Tanimu Yakubu, in Abuja, NDIC Managing Director/Chief Executive Mr. Thompson Oludare Sunday said building robust DIFs is critical to enabling the Corporation to respond to potential systemic crises without relying on government intervention.

Mr. Sunday said the NDIC has prioritized strong DIFs as part of its contingency planning and crisis preparedness framework. He cited the Corporation’s response to the revocation of the operating licenses of Aso Savings & Loans and Union Savings & Loans by the Central Bank of Nigeria in December 2025, noting that payments to depositors began within 72 hours.

He added that the Corporation will continue to deepen collaboration with the Budget Office and align its operations with the national budgetary framework to support evidence-based planning and economic growth. Mr. Sunday also said the NDIC would contribute to the Federal Government’s target of building a $1 trillion economy by 2030.

In response, Mr. Tanimu Yakubu commended the NDIC for its transparency in managing the DIFs. He urged the Corporation to adopt technology-driven investment strategies and benchmark its instruments against global best practices to further strengthen the funds, protect depositors, and sustain public confidence in the financial system.

The meeting was attended by NDIC Executive Director, Corporate Services, Emily Osuji, and Executive Director, Operations, Kabir S. Katata