The Managing Director/Chief Executive of the Nigeria Deposit InsuranceCorporation (NDIC), Mr. Bello Hassan has called on the Institute ofChartered Accountants of Nigeria (ICAN) to include courses on thedeposit insurance system (DIS) into the Institute’s programs and modules to deepen the understanding of the scheme within the bankingpublic. This was contained in a press statement issued by Bashir A. Nuhu, the Director, Communication & Public Affairs.
The director said the NDIC Boss made the call during a courtesy call on the Corporation’s Management in Abuja by the Council Members of ICAN, led by the President of the Institute, Mrs. Comfort Eyitayo. According to Hassan, this would help to bridge the knowledge gap and address misconceptions on the benefits and limitations of the DIS, particularly its contributions to financial system stability.
Mr. Hassan noted that public awareness was a critical factor towardsensuring the maximum impact and penetration of the benefits of thedeposit insurance system on the general public and the financial systemas a whole. He said that partnership with ICAN and other stakeholders topromote public awareness of the DIS had become necessary in view ofthe novel nature of the scheme in Nigeria and world at large, adding thatthe Corporation would continue to place premium on collaboration withits strategic stakeholders in the overall discharge of its mandate. The NDIC Boss thereafter, congratulated Mrs. Eyitayo on herassumption of office as the 57th ICAN President.
He urged her to ensurechartered accountants continue to uphold the ideals of accuracy andintegrity as enshrined in the Institute’s motto. He assured the Institute ofthe Corporation’s continued support and collaboration.In her remarks, Mrs Eyitayo acknowledged the invaluable contributionsof the NDIC in stabilizing the financial system in Nigeria. For an efficientfinancial services industry, the ICAN President stressed the need tosustain depositors’ trust and confidence by continuous reassurance ofthe safety of their deposits at any given time.
She expressed the commitment of the Institute towards the continuedpartnership with the Corporation to achieve greater awareness of thedeposit insurance system amongst members of the Institute.