NDIC Gets New Management, Edun Urges Stability Drive
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has inaugurated the new leadership of the Nigeria Deposit Insurance Corporation (NDIC), tasking them with the responsibility of strengthening the country’s financial stability.
Thompson Oludare Sunday officially assumed office as the new Managing Director and Chief Executive Officer of NDIC, while Dr. Kabir Sabo Katata was appointed as Executive Director (Operations).
Speaking at the ceremony held at the Ministry of Finance in Abuja, Edun described the NDIC as a crucial part of Nigeria’s financial safety-net and urged the new management team to bring their experience to bear in ensuring depositor protection and institutional soundness.
He reaffirmed the ministry’s full support for the new leadership and expressed confidence in their ability to contribute meaningfully to President Bola Tinubu’s economic reform agenda.
In his remarks, Mr. Sunday thanked President Tinubu for the opportunity and pledged that the new team would work diligently to meet national expectations and uphold the Corporation’s core responsibilities.
The new management was later welcomed at the NDIC headquarters in Abuja by the Corporation’s workforce. Addressing staff, Mr. Sunday promised to promote teamwork and align the Corporation’s activities with its public policy mandate.
Thompson Sunday is a veteran financial regulator with over 30 years of experience, including 24 years in banking supervision at the Central Bank of Nigeria before retiring as a Director in 2021.
Dr. Katata, on the other hand, is a computational finance expert and quantitative strategist with nearly three decades of multi-sector experience. He joined NDIC in 2012 and rose through the ranks to become a Director in 2022 before his recent appointment.
