NDIC committed to full digitisation of micro-finance banks — MD

The Nigeria Deposit Insurance Corporation (NDIC) says it is committed to ensuring that Micro-finance Banks (MFBs) in the country are fully digitised.

Its Managing Director, Mr Bello Hassan, represented by Mr Bashir Nuhu, the Director, Communication & Public Affairs Department of the corporation, said this in Abuja on Thursday.

He said that the commitment was aimed at increasing financial inclusion in the country.

Hassan said that the theme of the fair, “Creating an export ready market through SME Digitisation,” was in line with the corporation’s initiative.

He said the initiative which established the new cost saving digital platform known as National Microfinance Bank Unified Information Technology (NAMBUIT), was to address cost of operation.

“This initiative is to assist MFBs to build a user-friendly interface, flexible processing and aid decision making.

“By discharging our public policy objective of protecting depositors in the event of bank failures and offer a measure of safety for the banking system.

“We create enabling environment for the financial system to support the SME sub-sector of our economy and promote an export ready market through an efficient payment system,” he said.

Hassan said the essence of the corporation’s participation at the fair was to continuously sensitise depositors, stakeholders and the public about the existence of the Deposit Insurance Scheme (DIS), its benefits and limitations.

The Managing Director reiterated the corporation’s call to depositors of 20 closed banks to come forward for verification and payment of their deposits that were in excess of the guaranteed sums.

He said that through the corporation’s dogged liquidation activities, it had realised enough funds to fully pay all depositors of the banks.

The President of the Abuja Chamber of Commerce and Industry (ACCI), Dr Mustapha Abubakar, commended the NDIC for it efforts in ensuring resilience of banks in the country.

Abubakar, was represented by Alhaji Usman Balarabe, the Vice President of ACCI.