Business

We have zero tolerance for corruption, says NDIC boss

Published

7 years ago

November 6, 2019

The managing director of Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim has restated the corporation’s zero tolerance for corruption and all forms of malpractices in the implementation of its mandate and activities.

Ibrahim, who made the remark 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 Related Offences Commission (ICPC), Prof Owasanoye in Abuja, said that this stance remained a key component of the Nigerian financial system safety-net arrangement

Represented by Lola Abiola-Rdewor, the executive ddrector (ED) corporate services, at the event, the deposit insurance expert disclosed that the corporation had 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.

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

According to him, the corporation’s ACTU has been involved in the preliminary investigation and collaboration with ICPC, sensitization of the employees and identification and improvement of internal controls to avert fraudulent practices through thorough analysis of its systems, as well as by ensuring maximum compliance with its policies and procedures.

Ibrahim noted that the inauguration of the new members would further strengthen the corporation’s partnership with the ICPC and other government agencies involved in the anti-corruption crusade towards promoting credible and effective service delivery in the public sector.

In his remarks, the ICPC Chairman, who was represented by an 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 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.