CIoD applauds NDIC for promoting ethical leadership, corporate governance

The Chartered Institute of Directors (CIoD) Nigeria has commended the Nigeria Deposit Insurance Corporation (NDIC) for its consistent commitment to corporate governance, ethical leadership, and banking sector stability.

The President and Chairman of the Council of the Institute, Alhaji Tijjani Borodo, made this known during a courtesy visit by the CIoD Governing Council to the NDIC headquarters in Abuja.

He praised the Corporation’s exemplary standards in banking supervision and depositor protection, noting that its effective mandate implementation has played a significant role in promoting public confidence and financial system stability.

“Poor corporate governance remains a key factor in the collapse of banks. As the apex professional body for directors, the CIoD has put mechanisms in place to hold erring directors accountable for unethical practices,” Borodo stated.

He emphasized that the CIoD is strongly committed to advancing high standards of governance and ethical leadership across both the public and private sectors, including the financial services industry.

Highlighting the purpose of the visit, Borodo described the engagement as an opportunity to deepen collaboration between the two institutions, particularly in areas such as board induction, executive leadership development, and governance training tailored to directors’ needs.

Responding, the Managing Director and Chief Executive of the NDIC, Mr. Bello Hassan, expressed gratitude to the CIoD for its continued advocacy for professionalism and accountability.

He stressed that sound corporate governance remains central to the NDIC’s operations and is key to building resilience in the banking sector.

“Our mandate of depositor protection and financial system stability is firmly anchored on strong governance principles. We believe this is essential to reinforcing trust in Nigeria’s financial institutions,” Hassan said.

He also reaffirmed the NDIC’s readiness to deepen its partnership with the CIoD in strengthening governance culture, both within the Corporation and across the financial industry.

The visit underscored both institutions’ shared commitment to ethical leadership and their role in shaping a stable, transparent, and investor-friendly financial ecosystem.