Speaking while receiving the Africa’s Meritorious Service Award by a pan African non-governmental organisation, African Peace and Development Initiative (APDI), the NDIC boss said the Bridge Bank model adopted in resolving the problems of the erstwhile Afribank Plc, BankPHB Plc, Spring Bank Plc, and the formation of Mainstreet Bank, Keystone Bank and Enterprise Bank Ltd was aimed at protecting millions of depositors in the banks.
A statement issued by the NDIC spokesperson, Hadi. S. Birchi, said Ibrahim, who was represented by the Director, Internal Audit, Alhaji. Ibrahim Tafida, reiterated that the NDIC would continue to accord transparency, professionalism and diligence pride of place in the discharge of its mandate of deposit guarantee, banking supervision and failure resolution.
The President of APDI, Mike Femi, while presenting the award, commended the NDIC for its commitment to the safety and stability of Nigeria’s financial system.
According to the APDI President, the commitment of NDIC to its depositor protection mandate and constant introduction of new measures, particularly the recent Bridge Bank phenomenon, boosted confidence in the nation’s financial system.
