The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has inaugurated the new Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, alongside the Executive Director (Operations), Dr. Kabir Sabo Katata.
The inauguration ceremony, held at the Ministry of Finance headquarters in Abuja, marked a significant leadership transition at the NDIC, a critical institution within Nigeria’s financial safety-net framework.
Speaking at the event, Mr. Edun emphasized the NDIC’s strategic role in safeguarding the country’s financial system. He charged the newly appointed executives to leverage their extensive experience in fulfilling the Corporation’s mandate of promoting economic stability and public confidence in the banking sector.
“The NDIC is vital to the country’s economic stability and prosperity. I urge you to bring your deep expertise to bear in ensuring the continued protection of depositors and the soundness of our financial institutions,” Edun stated. He also assured the new leadership of the Ministry’s unwavering support.
Responding on behalf of the new management team, Mr. Sunday expressed gratitude to President Bola Ahmed Tinubu for the confidence reposed in them. He pledged to uphold the expectations of the President and the Nigerian public by steering the NDIC towards greater effectiveness.
Shortly after the inauguration, the management team was received at the NDIC headquarters by the Corporation’s staff. In his address to the workforce, Mr. Sunday assured staff of a collaborative approach to leadership. He reiterated the commitment of the new team to align their operations with the Corporation’s public policy objectives and legal mandate.
Mr. Thompson Oludare Sunday brings to the role over three decades of experience in financial regulation and supervision. A veteran of the Central Bank of Nigeria (CBN) since 1989, he spent 24 years in banking supervision, gaining expertise in corporate governance, risk management, and institutional compliance. He retired as a Director from the CBN in 2021.
Dr. Kabir Sabo Katata, the new Executive Director (Operations), is an accomplished computational finance expert and energy strategist. With more than 28 years of multidisciplinary experience across sectors including energy, telecommunications, and finance, Dr. Katata has specialized in advanced financial optimization and risk management. He joined the NDIC in 2012 and rose to the position of Director in January 2022 before his current elevation.
The inauguration ceremony also featured a group photograph with Mr. Edun, Minister of State for Finance Dr. Doris Uzoka-Anite, and the newly appointed NDIC executives.
By: Hawwau Gambo
Head, Communication & Public Affairs Department
Date: 27th July 2025
Source: www.ndic.gov.ng
