By kareem Abiodun
The president, Lagos State chamber of commerce and industry, Mr Gabriel Idahosa State, at the 38th Lagos international trade fair on the 7th of November, 2024 has made it known to the public that the Nigeria Deposits Insurance Corporation(NDIC) stands as a pillar of stability and confidence in Nigeria’s financial sector
The Nigeria Deposit Insurance Corporation (NDIC) at the Lagos International Trade Fair highlighted this year’s theme “Connecting Businesses, Creating Value”pointing out the importance of businesses to grow and also to drive wealth creation in the nation.
The managing Director of NDIC,Mr Bello Hassan,gave the reassurance during the corporation’s Special Day at the Fair said that all banks that had their licenses not withdrawn by the Central Bank of Nigeria (CBN) were safe and healthy. He also clearly assured the stability, safety, and health of Nigerian deposit money banks, urging citizens to continue patronising them without fear.
In addition,he stated that the Corporation responsibilities extend to creditors of defunct banks which is essential in maintaining public confidence.
In achieving success,he affirmed that they work tirelessly in ensuring the stability of the banking sector, maintaining compliance to banking regulations and ensuring effective oversight of insured deposit-taking financial institutions. Mr Gabriel Idahosa, President, Lagos Chamber of Commerce and Industry (LCCI) said that NDIC had remained effective in its regulatory oversight.Idahosa commended NDIC’s contributions to secure and thriving financial environment that empowers businesses, fuels economic growth, and reinforces public trust.
He advised NDIC to continue to evolve in response to the shifting financial landscape, addressing challenges such as digitalisation, rising non-performing loans, and public awareness.
