The Senate on Thursday approved the appointments of Oludare Sunday and Kabir Kataka as the new Managing Director and Executive Director of the Nigeria Deposit Insurance Corporation (NDIC).
This confirmation came after the submission of a report by the Senate Committee on Banking, Insurance, and Other Financial Institutions, which is led by Senator Adetokunbo Abiru (APC, Lagos East).
While presenting the committee’s report, Abiru recommended that the Senate endorse the nominations.
He said, “The Senate received and considered the report of the Committee on the confirmation of the nominations for appointment as Managing Director and Executive Director of the Nigerian Deposit Insurance Corporation.”
President Bola Tinubu had earlier, in May, nominated the duo and forwarded their names to the Senate for screening and approval in accordance with legal provisions.
The Senate President, Godswill Akpabio, had read the President’s nomination letter during a plenary session, after which it was assigned to the relevant committee for evaluation.
With the Senate’s confirmation on Thursday, Oludare and Kataka are now set to take up their roles at the NDIC, a key agency responsible for ensuring stability within the banking sector.
Their leadership is anticipated to contribute to reinforcing trust and soundness in Nigeria’s financial system.
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