The Nigeria Deposit Insurance Corporation (NDIC) has called for closer collaboration with the Economic and Financial Crimes Commission (EFCC) to strengthen efforts toward financial system stability and effective bank resolution.The request was made when the NDIC Managing Director and Chief Executive Officer, Thompson Oludare Sunday, led a management team on a courtesy visit to the EFCC Executive Chairman, Ola Olukoyede.
Sunday said the engagement was aimed at deepening institutional synergy and expanding cooperation between both agencies. He noted that NDIC intends to leverage the EFCC’s technical expertise in asset tracing, recovery, and management, particularly in cases involving debtors of banks under liquidation. He also highlighted the need for closer cooperation in prosecuting individuals whose actions contribute to bank failures.
According to him, enhanced collaboration would improve recovery outcomes and reinforce confidence in Nigeria’s financial system.Responding, Olukoyede said the EFCC and NDIC have a long-standing working relationship and pledged to strengthen it further. He noted that while the EFCC has supported NDIC in investigations, NDIC has contributed to EFCC capacity-building through training, describing the relationship as mutually beneficial.
Olukoyede added that the EFCC’s broader strategy includes supporting institutions that safeguard the financial system through preventive measures such as fraud risk assessment. He said the commission is committed to working with NDIC and other stakeholders to strengthen internal controls and reduce financial crimes across the sector.
