Nigeria Deposit Insurance Corporation (NDIC) has said its prompt resolution of banks’ failure over the years saved the banking sector from systemic collapse.
Mrs Ronke Shokefun, chairman NDIC Board of Directors, said this at a retreat organised by NDIC for Members of the House of Representatives Committee on Insurance and Actuarial Matters,in Lagos.
Speaking at the retreat with the theme “Strengthening Nigeria’s Financial Safety-Net: The Role of Deposit Insurance (DI)” she said the prompt resolution of banks’ failure had also in the corporation’s 32 years of existence, further provided a Financial Safety-Net for the banking sector.