NDIC Ranked “Most Ethics and Integrity-compliant MDA” as Bello Hassan Clocks 2 Years as MD/CEO
- Sulaiman Umar
- 26 Dec, 2023
- 552
By
Muhammad Danjuma Katsina
The well-deserved emergence of the Nigeria Deposit Insurance Corporation (NDIC) as the most Ethics and Integrity-compliant government MDA in Nigeria, in the recently released ranking by ICPC on Ethics and Integrity evaluation speaks volumes on how the corporation has been managed since Bello Hassan, FCA., took the reins of the agency in 2021.
ICPC beamed its light on 404
ministries, departments and agencies where it reviewed their level of
compliance with ethical, legal and professional requirements and standards,
using a strict set of criteria, and upon conclusion of the exercise, published
its report on national dailies, in the form of ranking based on those criteria.
The anti-graft agency says it embarked
on the exercise, which is performed annually, to ensure that these MDAs work in
line with ethical provisions, which will go a long way in minimizing corrupt
practices and other forms of financial and administrative malpractice in the
public sector.
The system measures three key
performance indicators, namely management culture and structure, financial
management system, and administrative system, and NDIC’s ranking as the first
on the long list is a testament to the culture of discipline and strictly
professional work ethic instituted and maintained by Bello Hassan since his
appointment as the Managing Director/CEO of the corporation.
As a fellow of the Institute of
Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Bankers
(CIBN), Bello’s vast experience in the banking and finance sector, spanning
over three decades, and his track record of excellence during the period backed
by his sound educational and professional education and expertise eminently
qualify him for outstanding performance at the NDIC, which adds to the
integrity of the country’s deposit insurance system to the benefit of millions
of depositors.
Before his appointment as NDIC boss,
he had served at the Central Bank of Nigeria (CBN) for 32 years where he
supervised banks and other financial institutions to ensure financial stability
in the system. He variously served as Director, Other Financial Institutions
Supervision Department; Director, Banking Supervision Department; represented
the CBN on the NDIC Board and the Boards of Asset Management Corporation of
Nigeria (AMCON), Financial Institutions Training Center (FITC), FMDQ Clear
Ltd., as well as on the Governing Council of the Chartered Institute of Bankers
of Nigeria (CIBN).
Considering government’s efforts
towards achieving sustainable growth by strengthening the financial environment
to boost economic growth, Bello steers NDIC with he clear vision of ensuring
the stability of the financial system by effectively complimenting the CBN in
supervising the banking sector and safeguarding depositors’ funds from the adverse
effects of bank failures when it occurs.
Recently, following the revocation of
licenses for 179 Microfinance Banks and four Primary Mortgage Banks by the
Central Bank of Nigeria (CBN), the NDIC immediately commenced liquidation of
the banks and began disbursing insured sums to depositors within just 7 days of
the closure of the affected banks. As at 22nd September, NDIC had paid a
cumulative insured sum of N1.084 billion to 29,573 depositors of the closed
banks as payments are still ongoing.
At present, the Corporation is in the
process of verifying and paying liquidation dividends to depositors and
stakeholders of 20 closed banks which include Allied Bank, Peak Merchant Bank,
Commerce Bank, Continental Merchant Bank, Financial Merchant Bank, Fortune Bank,
Gulf Bank, Hallmark Bank, Icon Merchant Bank, Liberty Bank and Nigeria Merchant
Bank among others.
These efforts are in line with the
mandate of the Corporation to provide deposit guarantee to depositors of
insured financial institutions, closely supervise banks, resolve distress, and
liquidate banks. Bello Hassan has given these responsibilities a whole new
meaning with renewed energy, vigour and transparency, and this goes a long way
to justify the ICPC ranking of the corporation under his leadership as the most
Ethics and Integrity-compliant MDA in the country.