…Min. Edun tasks team with strengthening financial stability
The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has officially inaugurated the new leadership of the Nigeria Deposit Insurance Corporation (NDIC), appointing Mr Thompson Oludare Sunday as Managing Director and Chief Executive Officer and Dr Kabir Sabo Katata as Executive Director of Operations.
The ceremony took place at the Ministry of Finance headquarters in Abuja.
In his address, Edun underscored the NDIC’s pivotal function as part of Nigeria’s financial safety net, describing its mandate as critical to achieving the country’s goals of economic stability and growth.
He called on the new management team to apply their extensive expertise to strengthen the Corporation’s operations, assuring them of the ministry’s full backing as they assume their responsibilities.
Mr Sunday, speaking on behalf of the management, expressed gratitude to President Bola Ahmed Tinubu for entrusting them with the appointments. He pledged the team’s commitment to meeting the expectations of both the President and Nigerians through effective delivery of the NDIC’s mandate.
Later, at the NDIC headquarters, the incoming executives were greeted by staff. Addressing the workforce, Mr Sunday vowed to foster close cooperation with employees in order to elevate the Corporation’s performance.
He affirmed that the management’s priorities would remain anchored on the statutory objectives, functions, and responsibilities set out in the Corporation’s enabling law.
Mr Thompson Oludare Sunday brings over three decades of experience in financial regulation and supervision. He began his career at the Central Bank of Nigeria (CBN) in 1989, spending 24 consecutive years in banking supervision, where he gained expertise in corporate governance, risk management, and compliance, essential tools for safeguarding institutional stability.
His career at the apex bank included key regulatory roles and high-level assignments before his retirement as Director in 2021.
Dr Kabir Sabo Katata, the new Executive Director (Operations), is a quantitative energy strategist and computational finance specialist with significant expertise in power trading and risk management. His 28-year career spans telecommunications, information technology, energy, finance, and government.
Joining NDIC in 2012 as an Assistant Director in the Research, Policy and International Relations Department, he rose to become Director in January 2022.
Katata’s professional focus includes advanced financial optimisation and the application of modern statistical and mathematical methods in the energy, deposit insurance, and banking sectors. Both he and Mr Sunday are expected to steer NDIC through its next phase, reinforcing confidence in Nigeria’s financial system.
