National Assembly considers Bill to Amend NDIC Act 2006

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The Nigerian National Assembly on Friday said it would immediately commence work on a Bill to Amend the Nigeria Deposit Insurance Corporation (NDIC) Act 2006 afresh as the work earlier done by the 8th Senate had lapsed with the expiration of that Assembly.

Ahmed Ibrahim Lawan, Senate president gave this assurance in response to an appeal by Umaru Ibrahim, NDIC managing director/CEO, to the 9th Senate of the Federal Republic for the speedy passage of the NDIC Act, 2006 (as amended) currently before the National Assembly.

Umaru Ibrahim made the plea when the Management of the Corporation paid a courtesy call on the newly elected President of the Senate, in his office on June 26, 2019.

In his response, Lawan noted the importance of the Bill and assured the management of the Corporation that the 9th Senate would give the bill the accelerated consideration it deserved.

Earlier, in his opening remarks, the NDIC Managing Director congratulated the Senate President on his election, along with the returning and first-time Senators on their victory at the polls. He stated the resolve of the Corporation to work closely with the Senate leadership and the Senate Committee on Banking, Insurance and Other Financial Institutions to ensure a stable banking system which is critical to the stability of the nation’s financial system.

He recalled that in the past, the Corporation had worked with the Senate on the Bill to Amend the NDIC Act 2006 through the holding of seminars, workshops and active participation in public hearings, stating that the Senate of the 8th Assembly was unable to pass the Bill unlike the House of Representatives which accorded the process the priority it deserved. He appealed to the Senate, under its present leadership, to pass the Bill in earnest in … Read More...