NDIC Boss Urges Law Enforcement Agencies To Intensify Fight Against Financial Malpractices

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan, has emphasized the need for law enforcement agencies to intensify their efforts in the fight against financial malpractices in banks and other financial institutions in Nigeria.

Speaking at the 2024 Capacity Building Workshop for Law Enforcement Agencies held in Lagos, Hassan highlighted the importance of a safe and sound banking environment in ensuring financial system stability and economic development.

He commended the collaborative efforts between the NDIC and law enforcement agencies in the fight against financial crimes, urging them to remain vigilant and proactive in detecting and prosecuting cases of insider abuse and financial malpractices.

The workshop, which held on July 11-12, aimed to enhance the capacity of law enforcement agencies in investigating and prosecuting financial crimes, and to foster greater collaboration between the NDIC and these agencies in promoting financial stability and safety in Nigeria.

Addressing the evolving nature of banking and financial services, Hassan acknowledged the challenges posed by technological advancements and cybercriminal activities. He stressed the importance of equipping law enforcement officers with the knowledge and skills necessary to navigate this dynamic environment.

“We are aware of the efforts and measures put in place by Regulatory and Supervisory Agencies to curb the activities of fraudsters in the system, and it is our firm belief that these efforts are yielding positive results,” Hassan said.

The workshop serves as a platform for agencies to sharpen their skills, share ideas, and prepare to face the challenges ahead. Hassan called for active participation and robust discussions to ensure actionable outcomes from the workshop.

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“I urge you all to participate actively in the deliberations, engage the facilitators in robust discussions so that, at the end of the workshop, you will come up with recommendations that will translate to actionable plans,” he concluded.

The event saw the attendance of key figures from various regulatory and enforcement agencies, including representatives from the EFCC, CBN, Police Force CID, SFU, and the Federal Ministry of Justice. These collaborations are crucial for maintaining the integrity of Nigeria’s financial system and ensuring the protection of depositors’ funds.

Photo Caption:

L-R: Head Legal Department NDIC, Mr Henry Fomah; Director Legal Department CBN, Mr Kofo S. Alada; Rep of Chairman EFCC and Ag.Zonal Commander, Mr Michael Wetkas; Rep of MD/CEO (NDIC) and Director Communications & Public Affairs Dept, Mr Bashir A. Nuhu; AIG. Force CID, Alagbon, Romokere God’s Gift Ibani; Commissioner of Police SFU, Ayotunde G.Omedeinde; Rep of; Director of Public Prosecution of the Federation, Mr Emmanuel Kaswe; and Coordinator, FMIU, DCP Sirajo L. Salisu in a group photograph during the NDIC’s 2024 Capacity Building Workshop For Law Enforcement Agencies, with the theme: “Inter-Agency Collaboration in the Fight Against Financial Malpractices in Banks and Other Financial Institutions in Nigeria held in Lagos.

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