Financial Impropriety Allegations: NDIC Assures of Zero Tolerance Policy

The Nigeria Deposit Insurance Corporation (NDIC) has said, it maintains a zero-tolerance policy towards financial impropriety and any actions that contravene our core values, corporate culture, and code of conduct.

This is as it responded to media reports by the Peoples’ Gazette and Sahara Reporters concerning allegations of financial impropriety involving one of its staff members. While acknowledging the seriousness of the allegations, the NDIC clarifies that the reported incident is unrelated to the Corporation’s operations.

In a statement issued by the NDIC director, Communications and Public Affairs Department, Bashir Nuhu, the corporation emphasised its commitment to uncovering the truth and addressing the matter in an appropriate manner. It noted that the veracity of the reported incident is currently being assessed, and the corporation is conducting thorough investigations to ascertain the facts.

It noted that,  “the alleged events are unrelated to the operations of the Corporation. Nonetheless, as a responsible Federal Institution, we are committed to uncovering the truth and addressing the matter in an appropriate manner.

“Following our preliminary investigations into the allegations, we have discovered that the staff member in question was previously employed at a commercial bank as an account officer to the federal government fficial referenced in the report before joining the NDIC in 2017.

It is important to note that during her tenure at the bank, she asserts that she was not involved in any improper financial transactions with anyone.

“However, we remain diligent in our pursuit of any contradictory information and will not hesitate to take appropriate action should it arise concerning the staff member involved. The NDIC maintains a zero-tolerance policy towards financial impropriety and any actions that contravene our core values, corporate culture, and code of conduct.

“We wish to emphasise that the NDIC is committed to upholding the highest ethical standards in our corporate governance practices, which we have diligently cultivated over the past three decades of our existence in fulfilling our role of depositor protection and contributing to financial system stability.”