Edun Inaugurates New NDIC Management,Says Corporation Has Big Role To Play

The minister of Finance and Coordinating minister of the Economy, Wale Edun has inaugurated the new managing director/chief executive officer of the Nigeria Deposit Insurance Corporation (NDIC), Thompson Oludare Sunday and executive director (operations), Dr Kabir Sabo Katata.

The NDIC said the inauguration was done at the Federal Ministry of Finance, Abuja.
In his remark during the occasion, the minister submitted that the NDIC, as a component of the financial safety-net of the federal government, had a crucial role to play in the nation’s march to economic stability and prosperity.

He therefore urged the management team to bring their diverse wealth of experience to bear on their new assignment while assuring them of the ministry’s full support in the task ahead.

Responding, Sunday who spoke on behalf of the management team, expressed appreciation to President Bola Ahmed Tinubu for their appointment. He assured the minister of the readiness of his team to live up to expectations of the president in particular and the nation in general in the discharge of their duties.
According to the statement, the management was later received to the corporation’s head office with a warm welcome by the workforce.

Addressing the workers on behalf of the management team, Sunday promised to work in harmony with the staff to move the corporation to its next level of performance.

He stressed that the management’s focus would be based on the public policy objectives, functions and mandate devolved to the corporation by the enabling law that established it.

The new MD is a financial expert with over 30 years of regulatory and supervisory experience. Having cut his teeth with the Central Bank of Nigeria (CBN) in 1989, he went ahead to acquire high-end knowledge in Central Banking, spending 24 years in banking supervision.

While his experience is in the regulation and supervision of licensed institutions, his deep expertise span corporate governance, risk management and compliance as veritable tool for ensuring the safety and soundness of institutions.

He is an analytical and cross functional team worker with strong interest in building individual and institutional capacity for transformation and excellence.

Thompson’s skills and experience were horned by several key responsibilities and special assignments he handled for the apex bank before his retirement as a Director 2021.

The ED (operations), Kabir Sabo Katata is a quantitative energy strategist and computational finance expert with strong power trading and risk management experience. He has over twenty-eight years’ experience in the design and management of technically innovative systems in multiple industries including telecommunications, IT, energy (petroleum & power), finance and government.

He is a specialist in sophisticated financial optimization, the application of modern statistical techniques and mathematics to energy, deposit insurance and banking sectors. Dr. Katata joined the service of the Nigeria Deposit Insurance Corporation in 2012 as an assistant director in the research, policy and international relations department and rose to the pinnacle of his career as director in January 2022, before his new appointment as executive director (operations).