Failed Banks: NDIC commends courts for timely trials

The Nigeria Deposit Insurance Corporation (NDIC) has commended the judiciary for the timely prosecution of failed bank cases over the years.

On Monday, the commendation was contained in a statement by Bashir Nuhu, the NDIC spokesman.

The statement said the NDIC managing director, Bello Hassan, gave the commendation in Abuja.

Hassan said support from its external solicitors and the judiciary was evidenced by heightened diligence in handling the corporation’s cases and making informed judgments from the court.

He said the support had also increased awareness of the benefits of the deposit insurance scheme in the public domain.

Hassan said the recovery of debts and realisation of assets of closed banks were critical to achieving the corporation’s mandate as a liquidator.

He explained that the NDIC would continue collaborating with the judiciary and external solicitors in handling parties’ suits against the NDIC.

”We must also collaborate with the judiciary and solicitors in handling the corporation’s cases against debtors toward recovering the debts owed to banks under liquidation,” stated the NDIC boss.



FI