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NDIC unleashes new examiners on banks

By on March 28, 2011

In its effort to have a firm hold on the banking industry, the Nigeria Deposit Insurance Corporation (NDIC) has released a fresh set of bank examiners to monitor the sector.

The exercise also seen an attempt to protect depositors, will ensure stability of the banking sector, ensure effective and efficient payment system and promote competition and innovation in the nation’s banking sector.

Over the weekend, about 160 examiners were inducted in the second and possible final phases of the recruitment exercise of the NDIC after September 2010 induction of 127 examiners into its workforce.

This is the second time the NDIC will be recruiting large numbers of bank examiners since 1994 when about 300 examiners were inducted.

Speaking in Abuja at the induction on Friday, the corporation’s Board Chairman, Dr Hassan Adamu, commended the examiners for scaling through the “rigorous recruitment process.”

According to Dr Adamu, the recruitment of the new bank examiners “into the NDIC is to enable the corporation to face current and emerging challenges in the financial and banking industry both locally and globally.”

Source : The Nation