Nigerian Banks Maintained Stability Despite COVID-19 Challenges–NDIC

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At the 2022 stakeholders’ retreat of the Senate Committee on Banking, Insurance, and Other Financial Institutions with the Nigeria Deposit Insurance Corporation. The Managing Director/Chief Executive (NDIC), Mr. Bello Hassan, says Nigerian banks maintained stability despite challenges brought by the COVID-19 pandemic. He spoke on the theme, ‘Deposit Insurance in Nigeria–Re-strategising for Tomorrow” in Lagos on Saturday.

He further states “As evidenced by the financial soundness indicators, Nigerian banks remain resilient, by being safe, stable, and sound despite the challenges posed by the COVID-19 pandemic. This success was due largely to the proactive policies and support of the regulatory authorities.”

The Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, Senator Uba Sani. He says that the committee’s efforts toward regularly engaging critical stakeholders in the financial and banking sectors, and jointly organizing retreats of this nature for discussions. Therefore, painstaking analysis of a wide range of issues whose outcome would be of significant benefit to the Nigerian sector and economy is therefore necessary.

Represented by Olubunmi Adetunmbi, who says “this retreat is yet another sign and demonstration of the progress we have all made. Especially in forging a solid, sustainable and workable relationship in the overall interest of the nation.”


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