Senate has on Tuesday confirmed the nomination of members of the governing board of the Nigerian Deposit Insurance Corporation (NDIC) which was approved by President Buhari through a statement signed by the Special Adviser on Media and Communications to Finance Minister Zainab Ahmed, Yunusa Abdullah.

The President, had previously approved the reconstitution of the Nigeria Deposit Insurance Corporation (NDIC) governing board with the appointment of seven new members.

The recent appointment is aimed at injecting fresh ideas necessary to reposition the corporation for enhanced performance, the statement said. It noted that the appointments became imperative to reconstitute the governing board of the NDIC to avoid vacuum, ensure smooth operations of the corporation and ultimately boost the confidence of stakeholders and clients within the financial and banking sectors of the nation’s economy.

“The appointment of the existing members of the Board whose four-year term became effective on 9th December, 2018 expired on 9th December, 2022,” the statement read.

It said it is noteworthy that irrespective of the tenure of the appointment, NDIC operates a semester system for its board and it stands dissolved at the end of the tenure of the first appointment.

According to the statement, the board has five other members whose membership is by virtue of institutional or Office representation in line with the provision of Section 5 (2 c and d) of the NDIC, Act, 2006.

The appointees

The statement listed those appointed into the board to include Abdulhakeem Abdullateef, (Chairman) from South West Zone, (new appointment); Osita Ogbu, (member) from South East Zone, (new appointment); Umar Jibrin, (member) from North Central Zone, (new appointment); and Mohammed Haruna (member) from North East Zone, (new appointment).

*Other appointees *

Yasmin Dalhatu (Member, from North West zone, (new appointment); Simon Ogie, (member), from South South Zone, (new appointment); Abimbola Olashore (member), South West Zone, (new appointment); Muhammed Ali, Director Home Finance (member), Institutional (Rep of Federal Ministry of Finance, Budget and National Planning); Haruna Mustapha, Director Banking Supervision Department, (member), Institutional (Rep of Central Bank of Nigeria); Bello Hassan, Managing Director (member), by virtue of office; Mustapha Ibrahim, Executive Director Operations (member), by virtue of office; and Emily Osuji, Executive Director Corporate Services (member), by virtue of office.