By Tony Obiechina, Abuja
Nigeria Deposit Insurance Corporation ( NDIC) is one of the few agencies of the government consistent in remitting 80 percent operating surplus into Consolidated Revenue Fund, Finance Minister, Mrs Zainab Ahmed has revealed.
The Minister of Finance, confirmed the development on Thursday while inaugurating the Executive Director,(Corporate Services) of NDIC, Mrs. Emily Chidinma Osuji in Abuja.
The federal government is having difficult times with most MDAs in complying with the remittance of 80 percent of their operating surplus into Consolidated Revenue Fund as required by the Fiscal Responsibility Act.
Speaking at the inauguration of NDIC ED , Mrs. Ahmed lauded NDIC management as amongst few MDAs that consistently remit its 80 percent operating surplus into Consolidated Revenue Fund.
She described NDIC as an important component of the nation’s financial safety net at the forefront of activities that promote financial system stability through its contribution to Financial inclusion and other economic policies of Government.
The Minister tasked board and management of the corporation to liase with the National Assembly and facilitate the amendment of the NDIC Act 2006 which boarders on Banks and Other Financial Act (BOFIA) 2020.
” The corporation has been consistent in remitting its 80% operating surplus to the Consolidated Revenue Fund of the government among many other milestones achieved. I urge you to keep this good track record.
“I wish to seize this opportunity to once again draw the attention of the members of the board and management to some of the issues which were highlighted at the inauguration of the Managing Director and the Executive Director (Operations) on 11h March, 2021 which are as follows: to liaise with the National Assembly to facilitate the amendment of the NDIC Act 2006.
“The Ministry is ready and willing to assist in any direction request that the management would give a special brief on the issues that arose on the recently amended Banks and Other Financial Act (BOFIA) 2020”.
” The management should continue to provide good working conditions and equip staff to carry out the mandate of the Corporation even in difficult circumstances like during the COVID 19 pandemic.
“Members should note that there are guidelines, regulations and Circulars that guide the operation and conduct of governing boards of federal government parastatals, agencies and commissions and should be strictly adhered to frequency of meetings; entitlements of board members, travel guidelines and related matters”, she said.
Mrs Ahmed expressed gratitude to former Executive Director ( corporate services) Honourable Abiola-Edewor for her contribution to the NDIC and indeed to the Financial Services Subsector of the Nigerian Economy. She urged Mrs. Osuji as current Executive Director (Corporate Services) to bring her vast wealth of experience to bear in discharging her duties.
In her remark, NDIC board Chairman Mrs. Ronke Sokefun commended the Minister for bringing gender balance in to NDIC operations. She pledged to take the corporation to the highest level by assuring the Minister of an improved remittance of operating surplus into Consolidated Revenue Fund.
Responding, the NDIC Executive Director corporate services Mrs. Osuji thanked the Minister for the opportunity. She pledged to key into the vision of the corporation.
The Permanent Secretary in the Ministry, Alhaji Aliyu Ahmed, the Managing Director of NDIC, Alhaji Bello Hassan and other Directors of the Corporation were present at the inauguration ceremony.
