We have zero tolerance for corruption in our operations – NDIC MD

The Nigeria Deposit Insurance Corporation (NDIC) as a key component of the Nigerian financial safety-net arrangement, has zero tolerance for corruption and all forms of malpractices within the Corporation and in the implementation of its mandate and activities.

NDIC’s Managing Director/Chief Executive, Umaru Ibrahim, represented by the Executive Director (ED) Corporate Services, Hon. Omolola Abiola-Edewor, stated this during the inauguration of four new members to the Corporation’s Anti-Corruption and Transparency Unit (ACTU) by the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) at the Corporation’s Head Office in Abuja.

Hon. Abiola-Edewor said the Corporation has established a culture of zero tolerance for corruption by implementing strict operational procedures and guidelines that are geared towards instilling transparency and accountability in the work place.

She described the inauguration of the new members to the Corporation’s ACTU as an extension of the NDIC’s commitment towards maintaining high anti-corruption standards which had been imbibed by the Corporation’s employees and strengthened by the core values of honesty, respect and fairness, discipline, professionalism, teamwork and passion.

She added that ACTU of the NDIC had been involved in the preliminary investigation and collaboration with ICPC, sensitization of the Corporation’s members of staff, identification and improvement of internal controls to avert fraudulent practices through the thorough analysis of its systems, as well as by ensuring maximum compliance with its policies and procedures.

She concluded by stating that the inauguration of the new members further strengthened the Corporation’s partnership with the ICPC and other government agencies involved in the anti-corruption fight towards promoting credible and effective service delivery in the public sector.

The Chairman of ICPC, who was represented byan Assistant Director and Head of ICPC Anti-Corruption Unit, Mr Justin Kuatsea, said ACTU was created in ICPC in 2001 and established in other Government Agencies to curb corrupt practices as well as to implement transparent processes and procedures in the public sector. He expressed the belief that the addition of new members to the unit would improve synergy and effective collaboration between the unit, NDIC and the ICPC.He therefore commended the NDIC for its commitment to transparency and accountability both in its operations and in the banking sector.

It would be recalled that the ACTU was established in the Corporation in 2006 and was reconstituted in 2018. The new members were therefore appointed into the Unit to replace the former members.