Real reasons why ICAN leadership commended NDIC management team

Real reasons why ICAN leadership commended NDIC management team

The MD/CE Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan and the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe (4th & 5th left) pose for a group photograph along with members of the ICAN Governing Council, (L to R) NDIC Deputy Director Finance, Celestine Okafor, NDIC Director Audit, Adedayo Olukoya, ICAN Governing Council Member, AVM Abubakar Idris Adamu, NDIC Director Finance, Patience Olutomiwa and ICAN Registrar/Chief Executive, Lanre Olasunkanmi

By allcitynews.ng

Apparently satisfied with recorded achievements so far in the past months, coupled with the recognition by ICPC, the leadership of Institute of Chartered Accountants of Nigeria (ICAN), has commended Nigeria Deposit Insurance Corporation (NDIC) for its continuous compliance to the highest standards of integrity and transparency which is critical to the success of its operations in safeguarding depositors’ funds and ensuring the stability of the financial system.

Giving his commendation remarks during the courtesy visit by the team to his office in Abuja, the helmsman of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe, reiterated his commendation over the continuous compliance to the highest standards of integrity and transparency which is critical to the success of its operations in safeguarding depositors’ funds and ensuring the stability of the financial system.

According to Alaribe, NDIC has been recognised as a formidable organisation due to its commitment to compliance with standards of corporate governance, zero-tolerance for corruption and effective internal controls.

He added that the Corporation’s commitment has been recognized by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which awarded NDIC the top position in its 2023 Ethics and Integrity Compliance Scorecard (EICS).

While underscoring the relationship between his Institute and NDIC, Chief Alaribe disclosed that ICAN has also established the ICAN Accountability Index to promote integrity in key sectors of the economy, focusing on budget, credibility, asset and debt management.

In his remarks, the Managing Director and Chief Executive Officer of NDIC, Mr. Bello Hassan congratulated Chief Alaribe on his appointment as the 60th President of ICAN. Hassan, himself a Fellow of the Institute, described ICAN as a strategic stakeholder of the Corporation.

Hassan therefore reiterated the need for the Institute to ensure its members uphold the highest values of integrity and professionalism in the discharge of their duties as auditors, as NDIC and the Central Bank of Nigeria (CBN) continue to rely on their work as external auditors in their risk-based supervision of banks.

Reflecting on his earlier call for stronger collaboration with ICAN, the NDIC Boss stressed the need for the introduction of Deposit Insurance module in the curriculum of ICAN examinations. He emphasised that this initiative is essential to enhance understanding of the Deposit Insurance Scheme among ICAN members, who represent a significant portion of potential bankers and bank examiners.

Hassan restated the Management’s commitment towards strengthening the partnership between ICAN and the Corporation in contributing to the stability of the banking sector and the nation’s financial system as a whole.

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