Caption: The MD/Chief Executive Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan (second left) and the 60th President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe (third left) flanked by members of the institute’s Governing Council- Air Vice Marshal Abubakar Idris Adamu (left) and ICAN Registrar/Chief Executive, Lanre Olasunkanmi (right) during the ICAN Governing Council Members’ visit to the NDIC Management in Abuja.
Managing Director and Chief Executive Officer of NDIC, Bello Hassan, at the weekend in Abuja urged the Institute of Chartered Accountants of Nigeria (ICAN) to consider introducing a Deposit Insurance module in the curriculum of her examinations.
This initiative, he said, is essential to enhance understanding of the Deposit Insurance Scheme among ICAN members, who represent a significant portion of potential bankers and bank examiners.
Hassan, a fellow of the institute who spoke when he received Chief Davidson Alaribe, the 60th President of ICAN and members of its Governing Council to the NDIC management in his office, reiterated the need for the institute to ensure its members uphold the highest values of integrity and professionalism in the discharge of their duties as auditors.
According to a statement by Hawwau Gambo, acting Head, Communication & Public Affairs at the corporation, called for stronger collaboration between NDIC and ICAN, noting that the NDIC and the Central Bank of Nigeria (CBN) rely on the work of the institute’s members as external auditors in their risk-based supervision of banks.
Hassan described ICAN as a strategic stakeholder of the corporation, stressing the commitment of his management towards strengthening the partnership between ICAN and the Corporation in contributing to the stability of the banking sector and the nation’s financial system as a whole.
Speaking earlier, Alaribe commended the corporation for its continuous compliance to the highest standards of integrity and transparency which is critical to the success of its operations in safeguarding depositors’ funds and ensuring the stability of the financial system.
The NDIC, he added, has been recognised as a formidable organisation due to its commitment to compliance with standards of corporate governance, zero-tolerance for corruption and effective internal controls.
The corporation’s commitment, he recalled, had been recognized by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which awarded NDIC the top position in its 2023 Ethics and Integrity Compliance Scorecard (EICS).
While underscoring the relationship between his Institute and NDIC, Chief Alaribe disclosed that ICAN has also established the ICAN Accountability Index to promote integrity in key sectors of the economy, focusing on budget, credibility, asset and debt management.