By Yakubu LAAH InvesAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Deposit Insurance Corporation (NDIC) is seeking the collaboration of judges to ensure the effective discharge of its mandate and contribute to financial system stability in the country.
This is contained in a Statement made available to InvestAdvocate at the weekend by Hawwau Gambo, NDIC Media Relations.
The theme of the workshop held in Abuja Nigeria, is “The Challenge to Deposit Insurance Law and Practice”.
Umaru Ibrahim, the Corporation’s managing director/chief executive officer (MD/CEO) in his keynote address said the NDIC observed with concern that a large segment of the Nigerian public had a wrong perception about the Corporation and its statutory mandate; hence time and valuable resources were invested to reverse the trend through effective and continuous public awareness and close collaboration with key stakeholders.
He recalled a similar seminar in 2013 sponsored by NDIC where about 53 judges of the Federal High Courts actively participated. ‘’NDIC was not oblivious of the fact that some of the judges that benefitted from the last seminar had been elevated to the Court of Appeal or had retired and new judges who did not benefit from the earlier seminar had been appointed to fill the vacancies,’’ Ibrahim said.
The NDIC’s CEO said this seminar was organised by it to consolidate on the gains of the previous edition and to strengthen its relationship with the Courts in the interest of bank depositors and Nigeria’s financial system.
Ibrahim commended the overwhelming support of the courts through informed judgments from the various courts, encouraging feedback from both the bar and the bench and increased public awareness on the dynamics of deposit insurance.
On his part, Ibrahim Auta, the chief judge of the Federal High Court said judges had been exclusively designated to handle NDIC cases. ‘’The sensitization seminar had enlightened the bench on the mandate and activities of the Corporation which had resulted to more proactive and accurate adjudication of insolvency disputes,’’ he said.
Auta affirmed that the exclusive designation of judges to handle the NDIC cases had resulted in timely dispensation of judgments and sustained the competence and specialisation of designated courts.
