By Oluwaseun Sonde
Nigeria Deposit Insurance Corporation NDIC has organised this year 2022 capacity building for law enforcement agencies with the theme: Effective Investigation and Prosecution of Banking Malpractices that led to Failure of Banks.
The three-day workshop which was organised by the Legal Department of the Corporation held at BWC Hotel, Victoria Island, Lagos, on Wednesday, had in attendance the top management of the agencies.
Speaking at the sideline of the event, the NDIC Managing Director, Bello Hassan, clarified that all Deposit Money Banks (DMBs) in Nigeria, including Polaris Bank are safe and sound.
Hassan made it known that Polaris Bank has not been sold as reported by some media recently, adding that banks operating within the country are sound in as much as their licences have not been revoked.
"If there is a problem, the regulator that issues the licence will be the one to revoke the licence. You’re free to continue to bank with the institution; it means it is safe,’’ NDIC Boss said.
Hassan further explained that the Corporation usually carried out stress tests on banks on a monthly basis, to ascertain their financial soundness.
He said: “The Central Bank also does stress testing, and so do we in NDIC. In fact we do it on a monthly basis to ascertain the financial soundness of those banks and we see no red line".
The Event has in attendance, DCP. Ayoola Ajala, Coordinator, Financial Malpractices Investigation Unit; Mohammed B. Abubakar, Director Public Prosecution of the Federation; Michael Oladele, Director Bank Examination Department, NDIC; Henry E. Fomah, Head Legal Department, NDIC; Ahmad Muhammad Ghali EFCC Representatives and others.
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