NDIC, EFCC Vow to Tighten Grip on Bank Failures, Debt Recovery

By Linda Ike

Nigeria Deposit Insurance Corporation (NDIC) has pledged deeper teamwork with Economic and Financial Crimes Commission (EFCC ) to hunt failed bank assets, recover debts, and jail bank wreckers.

Managing Director and Chief Executive Officer of NDIC, Thompson Oludare Sunday said this during a visit to EFCC Chairman Olanipekun Olukoyede in Abuja.

Top NDIC execs like Emily Osuji, Director, Corporate Services and Kabir Katata, Executive Director, Operations joined the courtesy call.

Sunday stressed joint asset tracing stops stripping and hiding by crooks. This fuels bank liquidation, pays uninsured depositors, fights fraud, and steadies Nigeria’s financial system.

He highlighted NDIC’s four pillars, deposit guarantee, supervision, distress fix, liquidation, all shield depositors and build trust.

EFCC’ Boss, Olukoyede welcomed the push, noting strong past ties in probes and training.

He flagged the Bank Fraud Section for NDIC cases and urged quick handover of pending files.

Olukoyede touted EFCC’s Fraud Risk Unit for proactive checks on risks and controls in banks and beyond, to support and safeguard Nigeria’s economy.

Both leaders sealed commitment to smash financial crimes, grab assets, and prosecute threats to banking stability.