Senate confirms Oludare Sunday as NDIC MD

The senate has confirmed Oludare Sunday as managing director of the Nigeria Deposit Insurance Corporation (NDIC).

Lawmakers also confirmed Kabir Sabo Katata as executive director of the corporation.

The confirmation followed the consideration of the report of the committee on banking, insurance and other financial institutions.

Presenting the report on Thursday, Tokunbo Abiru, chairman of the committee and senator representing Lagos east, said the nominees were found suitable for the positions.

He said no petition was received against either nominee, adding that they were both cleared by security agencies.

Abiru said the appointments were in line with the provisions of the NDIC Act, 2023.

He added that the nominees possessed the expertise, knowledge, and professional experience required to lead the corporation.

“After a robust engagement with the nominees and being satisfied with their experience, performance, and academic qualifications, the committee hereby recommends that the senate confirms their appointments,” he said.

Barau Jibrin, deputy senate president, commended the committee for carrying out its task effectively.

“The job is well-structured and well put together, due to the resilience and hard work of the chairman and members of the committee and for the way and manner they performed their functions,” he said.

President Bola Tinubu forwarded the nominations to the senate in May.

The nominations were read on the floor by Godswill Akpabio, senate president, and referred to the relevant committee for screening.

With the confirmation, Sunday and Katata are expected to assume leadership roles at the NDIC, with a mandate to strengthen stability in Nigeria’s banking and financial sector.