Governor of Central Bank of Nigeria, Mallam Lamido Sanusi Lamido said the banking sector crisis could have been averted if industry players had listened to the early warning by the Nigeria Deposit Insurance Corporation (NDIC) under its former Managing Director/Chief Executive Officer, Alh. Ganiyu Ogunleye.
Speaking at a Send-forth Dinner for the former NDIC boss as well as former executive director, operations, Prof. Peter Umoh, the CBN governor said between 2006/2007, the corporation under the former MD had warned of an impending crisis in the banking sector, but no one listened to the advice.
Sanusi said though the CBN and NDIC have a record of collaborative efforts in the past years, it would nevertheless continue to work hand-in-hand in supervision and protection of depositors’ funds.
Meanwhile, chairman, NDIC, Dr. Hassan Adamu described the former MD and the ED operations as fine gentlemen whose contributions to the growth of NDIC were immeasurable.
He said: “I wish to state that without their able leadership, the corporation would not have been where it is today.”
Similarly, Managing Director/CEO of the corporation, Alhaji Umaru Ibrahim, said the duo had contributed to the growth and development of deposit insurance system in Nigeria and Africa in general.
He said: “No doubt the corporation had evolved into a highly robust, responsible and reputable organisation due to the contributions and selfless service of these two admirable gentlemen who helped to pilot the affairs of the corporation for decade before they retired.