The Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has appealed to the 9th Senate for the speedy passage of the pending NDIC Act, 2006 (as amended) currently before the National Assembly.

The NDIC boss made the plea when the management of the corporation paid a courtesy call on the newly elected President of the Senate, Dr Ahmed Ibrahim Lawan, in his office on Wednesday. According to him, the Act will unlock the various potential of the Corporation and boost its operations in no small measure.

Responding, the Senate President promised that the Senate would immediately commence work afresh on the bill to amend the NDIC Act 2006 as the work earlier done by the 8th Senate had lapsed with the expiration of that assembly.

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The bill, Lawan noted, is vital to taking the Corporation to the next level, assuring the NDIC management that the 9th Senate would give it the accelerated consideration it deserved.

While congratulating the President of the Senate on his election, along with the returning and first-time senators on their victory at the polls, the NDIC boss stated the resolve of the corporation to work closely with the Senate leadership and the Senate Committee on Banking, Insurance and Other Financial Institutions to ensure a stable banking system which is critical to the stability of the nation’s financial system.