Finance Minister Tasks New NDIC Leadership on Performance

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has urged the newly appointed executives of the Nigeria Deposit Insurance Corporation (NDIC) to deliver excellence and maintain financial system stability in line with their mandates.

Speaking at the official inauguration of NDIC Managing Director/CEO, Thompson Sunday, and Executive Director (Operations), Dr. Kabir Katata, at the ministry’s headquarters in Abuja, Edun described the Corporation as a critical pillar of Nigeria’s financial system. He assured the new appointees of the Ministry’s full support in their efforts to drive meaningful reform.

In response, the new MD, Thompson Sunday, thanked President Bola Tinubu for the appointment and pledged to lead the NDIC with professionalism, integrity, and alignment to its statutory functions. He also promised to meet expectations for institutional performance and national impact.

Sunday began his career at the Central Bank of Nigeria in 1989 and brings over three decades of experience in regulation, banking supervision, and corporate governance. He retired from the CBN as a director in 2021.

Dr. Kabir Katata, now Executive Director of Operations, is a seasoned expert in risk management, energy, and financial systems, with more than 28 years of cross-industry experience. He joined the NDIC in 2012 and has since held several executive roles.

The NDIC has reiterated its commitment to reimbursing depositors of the defunct Heritage Bank. Disbursements of insured deposits are ongoing, with assurances that eligible customers will receive their funds.