The National Assembly will collaborate with the Nigeria Deposit Insurance Corporation (NDIC) to enhance its risk management framework for improved protection of depositors’ funds.
The Corporation stated that collaborating with the Senate Committee on Banking, Insurance and Other Financial Institutions will offer legislative support for this initiative.
During a retreat for Committee members in Abuja on Monday themed “Legislative and Policy Support for a More Effective Deposit Insurance System,” Senator Mukhail Abiru, Chairman of the Senate Committee on Banking, Insurance and other Financial Institutions, emphasized the need for the financial sector to be better equipped to address emerging risks, particularly cyber threats. He stated that the committee would persist in offering legislative and policy support to enhance the effectiveness of the deposit insurance system.
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