Nigeria Deposit Insurance Corporation (NDIC) says it is stepping up its support for the implementation of the Africa Continental Free Trade Agreement(AfCTA), by straightening its intermediation role for financial and monetary institutions in the country.
This development is coming on the heels of the disclosure by the corporation that it was able to resolve 248 complaints as well as helped bank depositors recover over 8.3 billion from their respective banks from January to November, this year.
Bello Hassan, managing director of the corporation gave the hint this weekend while delivering an address on the special day of the Corporation at the ongoing international Trade Fair, held in the commercial city of Kano.
Bello, who was represented by Bashir Nuhu, the head of communication and public enlightenment of the corporation, said that the support the corporation is giving the implementation of the AfCTA was geared at bolstering the confidence of Nigeria in the programme.
According to the MD, the support being given to the implementation of the agreement is being done in collaboration with other safety-net players, to keep the financial system safe and sound.
He stressed the commitment of the corporation to strongly play the role of intermediation in support of the implementation of the agreement, and effective management of the economy, as a whole.
” I would like to congratulate the President, other executives and entire members of the Kano Chamber of Commerce, Industry, Mines, and Agriculture(KACCIMA), on yet another enviable feat which underpins this year’s trade fair.
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“Further to the perfect organisation, the Chamber has once again demonstrated its commitment to supporting the government towards unleashing the nation’s economy through collaboration on key policies and programmes. This is demonstrated in the theme of the fair ‘ Unlocking AfCTA for Nigeria Economic Growth and .”
” It is a delight that the theme equally resonates with the mandate, vision and mission of our Corporation which centres on protecting depositors and contributing to the stability of the financial system. It’s no gainsaying that a safe, and stable financial system is a pivot on which the wheel of economic growth and development revolves.
” The NDIC, in collaboration with other safety-net players, will therefore continue to be resolutely committed to keeping the financial system safe and sound, not only to bolster confidence, but to strongly serve its role of intermediation in support of the AfCTA implementation in particular, and the economy in general”, Bello stated.
In the same vein, the MD further disclosed the over N8.3 billion recovered for 248 complaints between January to November, this year, was an outcome of complaints that bothered unauthorised withdrawals from banks.
He explained that a total of 190 cases of unauthorised withdrawals were recorded in the year, noting that out of the unauthorised withdrawal, POS issues accounted for 33, charges/fees/ fraud issues and others accounted for 25 of the cases.
The MD added as a way of addressing the issue of complaints promptly, the corporation has created more channels for complaints to be made, noting that presently, 95 of the total complaints, representing about 38.3 percent, came from zonal offices. 24 per cent from toll-free help desk, and 37 per cent from other platforms.
He charged all depositors and other bank customers to continue to avail themselves of the opportunities provided in making their complaints known to them when the need
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