The Nigeria Deposit Insurance Corporation (NDIC) has demonstrated its commitment to high ethical standards and compliance with anti-corruption laws and regulations, as it has secured the top position in the Independent Corrupt Practices and Other Related Offences Commission (ICPC) 2023 Ethics and Integrity Compliance Scorecard (EICS).
This marks the second time that NDIC has achieved the prestigious first place, previously having been ranked first in the 2021 EICS. The ICPC’s Ethics and Integrity Compliance Scorecard (EICS) is an annual assessment tool designed to evaluate Ministries, Departments, and Agencies (MDAs) in Nigeria for their adherence to institutional ethics and integrity requirements.
The assessment encompasses the measurement and monitoring of key performance indicators in categories such as Management Culture and Structure, Financial Management Systems, and Administrative Systems. In the 2023 EICS, which took place between March and July 2023 and involved 404 MDAs, the NDIC excelled with a score of 91.30 per cent.
The EICS report emphasised the ICPC’s commitment to mitigating abuse of office and corruption by promoting ethics and integrity benchmarks within government agencies, ultimately contributing to more effective service delivery.
The NDIC’s consistent first-place ranking is a testimony to the corporation’s zero tolerance policy for corruption and benchmarking its operations with standard best practices. It would be recalled that the Corporation in September this year earned 3 ISO Certifications having complied with the requirements following a rigorous audit by MSECB, a leading international provider of Audit and Certification services.
These achievements have been possible due to the Corporation’s effective and ethical operational procedures aimed at instilling transparency and accountability.
The NDIC’s Anti-Corruption and Transparency Unit (ACTU) played a pivotal role in the process, collaborating closely with the ICPC.
This collaboration included sensitising NDIC staff, identifying and enhancing internal controls to prevent fraudulent practices, and ensuring strict compliance with established policies and procedures by the Corporation’s management
The NDIC’s outstanding performance in the 2023 ICPC Ethics and Integrity Compliance Scorecard underscores its unwavering commitment to upholding the highest ethical standards and serving as a beacon of integrity within the Public Service. The corporation remains dedicated to ensuring the safety of deposits and contributing to the stability of the financial system.
