Edun Charges New NDIC Leadership to Uphold Financial Stability, Reassures on Heritage Bank Deposits
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has tasked the newly appointed leadership of the Nigeria Deposit Insurance Corporation (NDIC) with deploying their broad experience to strengthen the Corporation’s role in stabilising the financial sector.
Edun made this call during the official inauguration of NDIC’s Managing Director/Chief Executive Officer, Mr. Thompson Sunday, and the Executive Director (Operations), Dr. Kabir Katata, held at the Ministry of Finance in Abuja, according to a statement issued by NDIC’s Head of Communication and Public Affairs, Hawwau Gambo.
He highlighted the NDIC’s strategic position within Nigeria’s financial safety net and urged the new executives to bring their expertise to bear, noting that their success was essential to President Bola Tinubu’s broader economic reform agenda. He also assured them of the ministry’s full backing.
President Tinubu had nominated Sunday and Katata in May, with both later confirmed by the Senate in line with statutory procedures.
In his response, Sunday expressed gratitude for the trust reposed in him and pledged to meet the high expectations of both the presidency and the public.
While addressing staff at the NDIC headquarters, he promised to foster a harmonious working relationship and drive the agency toward improved performance.
Sunday brings over 30 years of regulatory experience, including 24 years in banking supervision with the Central Bank of Nigeria. He retired from the apex bank as a director in 2021 and is known for his strong grounding in corporate governance, risk management, and institutional capacity building.
Katata, the new ED (Operations), is a quantitative strategist and expert in computational finance. With over 28 years of experience across sectors such as energy, IT, telecommunications, and finance, he has served with the NDIC since 2012, rising to Director in 2022 before his latest appointment.
Meanwhile, the NDIC has reaffirmed its commitment to reimbursing eligible depositors of the recently failed Heritage Bank. In a statement posted on its official X (formerly Twitter) handle, the Corporation assured that payment of insured sums is ongoing and that efforts are being intensified to resolve outstanding claims.
This comes as customers of the defunct bank continue to demand access to their insured deposits, with NDIC maintaining that it remains focused on protecting depositors and maintaining public confidence in the banking system.
