The Nigerian Deposit Insurance Corporation (NDIC) has expressed its readiness to tackle emerging challenges in the banking sector and economy.
Its Managing Director/Chief Executive, Umaru Ibrahim stated this at the Corporation’s 30th anniversary dinner held in Lagos.
Ibrahim noted that new challenges which includes new emerging operational risks, phenomenal growth of assets of the Nigerian banking industry and its implications for supervision, regulations among others.
He said: “our growing population, phenomenal growth of the Nigerian population, young population and the demographic shift, changing customer preferences, poverty and unemployment. These are challenges which could largely be addressed if we have a very stable banking system.
“We are also aware of the emerging role of financial technologies in the financial landscape, block chain technology and phenomenal incursion of digital currencies globally and Nigeria is not left behind. In fact, it is in appreciation of this that arrangements are underway to develop a special team of experts in innovation and digital technology in the NDIC.”