Honourable members of the House Committee on Insurance and Actuarial Matters and Executive Management of the Nigeria Deposit Insurance Corporation (NDIC) in a group photo at the 2025 Stakeholders Workshop of the House Committee with the theme “Navigating Financial Disruptions: Strengthening the NDIC’s Mandate for Economic Stability” held in Lagos.
At the just-concluded 2025 Stakeholders Workshop organized by the House Committee on Insurance and Actuarial Matters in partnership with the Nigeria Deposit Insurance Corporation (NDIC), held from Wednesday, April 23rd to Friday, April 25th at Four Points by Sheraton Hotel, Oniru, Victoria Island, Lagos State, Hon. Ahmadu Usman Jaha, Chairman of the Committee, delivered a resounding keynote address that emphasized the urgency of fortifying Nigeria’s financial system against rising global disruptions.
Standing before a distinguished audience of regulators, lawmakers, and financial sector leaders, Hon. Jaha began by paying tribute to the NDIC for its steadfast commitment to safeguarding the stability of Nigeria’s financial landscape. He commended the Corporation’s efforts in deposit protection, bank supervision, failure resolution, and promoting financial literacy — all of which, he noted, have been critical in maintaining public trust in the banking sector amidst growing economic uncertainties.
Reflecting on the theme of the workshop, “Navigating Financial Disruptions: Strengthening the NDIC’s Mandate for Economic Stability,” Hon. Jaha described it as timely and urgent. He painted a vivid picture of the financial system’s vulnerabilities — from inflationary pressures and currency volatility to cyber threats and shifts in global investment patterns — stressing that the pace and complexity of these disruptions require a more agile, resilient, and forward-looking regulatory framework.
Hon. Jaha underscored the evolving role of the NDIC in a world where financial shocks are inevitable, highlighting the need for stronger synergy between the legislature and financial institutions. “Our collective responsibility,” he stated, “is to ensure that the legal and operational frameworks supporting our financial safety nets are continuously refined to withstand both present and future challenges.”
The Chairman reaffirmed the House Committee’s unwavering commitment to empowering the NDIC through proactive legislative action and robust oversight. He acknowledged that beyond legislation, workshops such as this serve as crucial forums for dialogue, innovation, and policy refinement, fostering collaboration towards strengthening the deposit insurance system, enhancing supervisory mechanisms, improving risk management, and building more robust early warning systems.
Driving home the reality of today’s financial world, Hon. Jaha reminded participants that disruptions — whether caused by macroeconomic shocks, technological innovations, or institutional failures — are not anomalies but expected features of a dynamic economy. He called for a collective shift from a reactive stance to one of preparedness, resilience, and proactive strategy.
As the workshop moved into detailed deliberations, Hon. Jaha encouraged participants to engage deeply, question prevailing assumptions, and offer practical recommendations that could future-proof the NDIC and by extension, the Nigerian economy. He also gave assurance that the House of Representatives would continue to provide the necessary legislative backing and policy support to reinforce the NDIC’s mandate.
Closing his keynote, Hon. Jaha declared with conviction, “Together, we can fortify the NDIC’s mandate and, by extension, strengthen economic stability for the benefit of all Nigerians.”
The event served not just as a forum for policy dialogue but as a pivotal reflection point for Nigeria’s financial sector stakeholders to reimagine and reinforce the resilience of the country’s economic safety nets in an increasingly unpredictable world.
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