The management of the Nigeria Deposit Insurance Corporation, NDIC, has requested the Economic and Financial Crimes Commission, EFCC, to return funds recovered from banks’ fraudsters to the corporation.
Bashir Nuhu, Director of Communications and Public Affairs, in a statement said the Managing Director Bello Hassan, made the request when he visited the commission’s headquarters in Abuja.
“The NDIC boss called for enhanced collaboration in the recovery of depositors’ funds to ensure that liquidation dividends are paid to depositors, whose monies were lost as a result of bank failures.
“He, therefore, solicited for the return of recoveries made by the EFCC on behalf of the NDIC to the Corporation’s coffers to facilitate the timely reimbursement of depositors,”
The NDIC boss assured the EFCC of his commitment to ensuring that those who were responsible for the failure of banks were properly investigated and prosecuted.
Hassan explained that the NDIC alsi played a critical role in combating financial crimes within the banking sector through its mandate, which includes bank supervision and liquidation of licensed banks.
He commended the EFCC for its relentless efforts in the fight against corruption and financial crimes and its role as a key member of the task force on the Implementation of the Failed Banks Act chaired by the NDIC.
Hassan said the existing partnership between the two organizations which led to 10 high-profile cases referred to the Commission currently under investigation should be strengthened.
The EFCC Chairman, Ola Olukoyede, urges the NDIC and the Central Bank of Nigeria, CBN, to intensify oversight to prevent the risk of bank failure.
He pledged the EFCC’s commitment to deepening collaboration and synergising efforts in combating financial crimes, thereby safeguarding the integrity of Nigeria’s banking sector.
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