Senate Confirms Thompson Sunday As NDIC Managing Director

The Senate has confirmed the nomination of Thompson Oludare Sunday as the new Managing Director of the Nigeria Deposit Insurance Corporation (NDIC).

Senate also confirmed Kabir Sabo Katata as Executive Director of the Corporation.
Their confirmation followed the consideration of a report submitted by the Senate Committee on Banking, Insurance, and Other Financial Institutions on Thursday in Abuja.

Presenting the report, the chairman of the committee, Senator Tokunbo Abiru (APC, Lagos East), said both nominees were found competent and qualified for the roles.

“The committee finds the nominees suitable for the roles.

“There were no petitions against them, and security agencies cleared them. Their appointments are in line with the provisions of the NDIC Act, 2023,” Abiru said.

Abiru further stated that the nominees possess the necessary expertise, professional experience, and qualifications to lead the NDIC and contribute meaningfully to Nigeria’s financial system stability.

“After a robust engagement with the nominees and being satisfied with their experience, performance, and academic qualifications, the committee hereby recommends that the Senate confirms their appointments,” he said.

Presiding over the plenary, Deputy Senate President Barau Jibrin commended the committee for what he described as “a job well done.”

“The report is well-structured and comprehensive, thanks to the resilience and hard work of the chairman and members of the committee,” he said.

The nominations were first forwarded to the Senate by President Bola Tinubu in May 2025.

They were read on the floor by Senate President Godswill Akpabio and subsequently referred to the relevant committee for screening.

With their confirmation, Sunday and Katata were expected to assume leadership roles at the NDIC, where they will oversee deposit insurance and banking sector stability in Nigeria.