President Buhari appoints new Board for NDIC

President Buhari has approved the reconstitution of the Board of the Nigeria Deposit Insurance Corporation (NDIC).

He has also approved the appointment of some new members and reappointment of some existing members to the Board.

The board has five members whose membership is by virtue of institutional or Office representation in line with the provision of Section 5 (2 c and d) of the NDIC, Act, 2006.

A statement from the Federal Ministry of Finance, Budget and National Planning said the new appointments and reappointments of the governing board the NDIC had become necessary “to avoid vacuum, ensure smooth operations of the corporation and ultimately boost the confidence of stakeholders and clients within the financial and banking sectors of the nation’s economy”.

Five new members, including the Chairman are new appointees to the Governing Board that will “form a new Board of Directors to oversee the affairs of the corporation for the next four years’ ‘.

According to the Ministry of Finance, “the appointment of some new members into the Board is aimed at injecting fresh ideas necessary to reposition the corporation for enhanced performance”.

The new appointees are Dr. Abdulhakeem Abdullateef, (Chairman) from Southwest zone; Prof. Osita Ogbu, from Southeast Zone; Umar Jibrin from Northcentral zone; Mohammed Haruna from Northeast zone; Yasmin Dalhatu from Northwest zone; Simon Ogie from Southsouth zone; Abimbola Olashore Southwest zone.

Those representing their institutions on the NDIC board are Director of Home Finance, Muhammed Ali, member (Rep of Federal Ministry of Finance, Budget and National Planning); Director Banking Supervision Department, Haruna Mustapha, member (Rep of Central Bank of Nigeria).

The reappointed members are Managing Director, Bello Hassan; Executive Director Operations, Mustapha Ibrahim; and Executive Director Corporate Services, Mrs Emily Osuji.

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