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NDIC to introduce new channels to deepen financial inclusion in Nigeria

.....Says 40% Nigerians still financially excluded

In furtherance of its elaborate initiatives towards achieving the desired level of Financial Inclusion in the country, the Nigeria Deposit Insurance Corporation has disclosed plans to introduce new channels of providing financial services across the Country.

Umaru Ibrahim, Managing Director, NDIC, said that about 40 percent of Nigerians still operate outside the formal financial system adding that the Corporation is working to introduce new channels such as Agency Banking, Payments Service Banks, and mobile banking among others which will enable small depositors have access to financial services.

The NDIC Boss while receiving the Alumni Association of the Institute in Abuja on Wednesday reiterated that the Corporation was established in 1989 to promote public confidence in the banking industry; contribute to the stability of the financial system, as well as ensure an orderly resolution of failed financial institutions.

“The Corporation, in close collaboration with the Central Bank (CBN), will continue to support the introduction of affordable products and services not only to the general public, but also to vulnerable women and dwellers in rural communities”.

Ibrahim called for a close partnership and collaboration with Alumni Association of the National Institute (AANI) for the rapid economic development of the country.

Mohammed Dikko Abubakar, president, AANI in his remark said that the Association is ready to partner with the NDIC to sensitize its members on the importance of financial inclusion to achieve its goals for the rapid socio-economic development of the country.

Abubakar, eulogised the MD for the remarkable strides the Corporation had made under his exemplary leadership. “The call was aimed at identifying with the way the MD/CE, Umaru Ibrahim, who is also an alumni of the National Institute, had piloted the affairs of the Corporation since his appointment”.


Cynthia Egboboh, Abuja.

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