We Have Zero Tolerance For Corruption In Our Operations – NDIC Boss

We Have Zero Tolerance For Corruption In Our Operations – NDIC Boss

The Managing Director of Nigeria Deposit Insurance Corporation (NDIC), Mr Umaru Ibrahim, has said that the corporation’s zero tolerance for corruption and all forms of malpractices in the implementation of its mandate and activities.

He made this known 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 Bolaji Owasanoye, in Abuja, the NDIC boss pointed out  that this position remained a key component of the Nigerian financial system safety-net arrangement

Ibrahim, who was represented by the Executive Director (ED) Corporate Services, Hon. Omolola Abiola-Edewor, at the event, said 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.

He 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.

Ibrahim said that 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.

The deposit insurer expressed optimism that the inauguration of the new members would 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.

Earlier during his remarks, the ICPC Chairman, who was represented by an Assistant Director and Head of ICPC Anti-Corruption Unit, Mr Justin Kuatsea, explained that the 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.

While expressing his belief that the addition of new members to the unit would improve synergy and effective collaboration between the unit, NDIC and the ICPC, the anti graft agency’s boss 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.


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