The Senate on Wednesday passed the NDIC amendment bill to strengthen the corporation and safeguard depositors\u2019 funds.<\/p>\n
Its passage followed the adoption of the report of the Senate Committee on Banking, Insurance, and Other Financial Institutions.<\/p>\n
The bill, titled \u201cNigeria Deposit Insurance Corporation Act 2023\u2033, was sponsored by Sen. Adetokunbo Abiru (APC-Lagos).<\/p>\n
Abiru , while presenting the report, said the bill would make the NDIC more effective and bring it in line with current realities and best practices.<\/p>\n
He said there was consensus among stakeholders on the importance of the NDIC to guarantee settlement of insured funds.<\/p>\n
\u201cConsidering the above, therefore, the general consensus among stakeholders was that it is important that the legal framework is reviewed.<\/p>\n
\u201cThis is to make the corporation more effective to discharge its functions, safeguard its independence and autonomy and to bring it in line with current realities and best practices.<\/p>\n
\u201cThis is particularly because the Corporation plays a vital role in safeguarding the interests of depositors and promoting confidence in the financial sector.<\/p>\n
\u201cThe evolving challenges in the global and domestic banking environments necessitate the amendment of the current law to keep pace with these developments and ensure the NDIC remains fit for purpose,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Senate on Wednesday passed the NDIC amendment bill to strengthen the corporation and safeguard depositors\u2019 funds. Its passage followed the adoption of the report of the Senate Committee on Banking, Insurance, and Other Financial Institutions. The bill, titled \u201cNigeria Deposit Insurance Corporation Act 2023\u2033, was sponsored by Sen. Adetokunbo Abiru (APC-Lagos). Abiru , while […]<\/p>\n","protected":false},"author":2,"featured_media":6630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-6632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/6632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/comments?post=6632"}],"version-history":[{"count":1,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/6632\/revisions"}],"predecessor-version":[{"id":6633,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/posts\/6632\/revisions\/6633"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media\/6630"}],"wp:attachment":[{"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/media?parent=6632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/categories?post=6632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/peoplesforumonline.com.ng\/about\/wp-json\/wp\/v2\/tags?post=6632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}