Managing Director of the Nigerian Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has said the corporation is determined to reposition the nation’s agricultural sector as a critical pillar and driver of the economy.
He noted that with huge investment in the sector, it should reclaim its lost glory as the major source of the nation’s foreign exchange earner, in place of oil.
Ibrahim spoke yesterday at the NDIC Special Day during the 40th edition of Kano Trade Fair in Kano.
The NDIC chief explained that as an important player in the Nigerian financial system, the corporation supports the growth of business through robust supervision of insured deposits.
According to him, NDIC is always ready and willing to partner the Kano State Chamber of Commerce and Industry as the corporation realised that the annual trade fair is a veritable platform and opportunity to educate the public about its activities.
He said as a member of the Nigerian financial safety net, a crucial public policy objective of the corporation is the protection of depositors’ funds in insured financial institutions as well as promoting public confidence in the financial system.
Reeling out the roles of the NDIC, the MD said these include deposit guarantee, bank supervision, distress resolutions and bank liquidation.