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.

Katsina Times 

@ www.katsinatimes.com 

Jaridar Taskar labarai 

@ www.jaridartaskarlabarai.com 

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