ICAN partners with NDIC to strengthen financial sector stability

The Nigeria Deposit Insurance Corporation (NDIC) has renewed its collaboration with the Institute of Chartered Accountants of Nigeria (ICAN) to bolster financial sector stability through enhanced professional education.

During a recent courtesy visit by ICAN’s Governing Council to the NDIC headquarters in Abuja, the Managing Director and Chief Executive Officer of NDIC, Mr. Bello Hassan, advocated for the inclusion of a deposit insurance module in ICAN’s curriculum. Hassan emphasized that integrating this module into ICAN’s examination framework would deepen the understanding of the Deposit Insurance Scheme among accounting professionals, many of whom are poised to take on roles as bankers and financial regulators.

“Reflecting on his earlier call for stronger collaboration with ICAN, the NDIC boss stressed the need for the introduction of a deposit insurance module in the curriculum of ICAN examinations. He emphasised that this initiative is essential to enhance understanding of the Deposit Insurance Scheme among ICAN members, who represent a significant portion of potential bankers and bank examiners,” Hassan stated, highlighting the Corporation’s commitment to fostering a more resilient financial environment through strategic partnerships.

In response, ICAN President Dr. Innocent Alaribe lauded the NDIC for its unwavering commitment to corporate governance, anti-corruption measures, and robust internal controls. He noted that these efforts had earned the Corporation the top spot in the Independent Corrupt Practices and Other Related Offences Commission’s 2023 Ethics and Integrity Compliance Scorecard.

Dr. Alaribe further underscored ICAN’s dedication to integrity and accountability, citing initiatives like the ICAN Accountability Index, which assesses key economic sectors on parameters such as budget credibility and debt management. He expressed optimism about the growing synergy between ICAN and NDIC in addressing challenges within Nigeria’s financial sector.

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