In a bold step to strengthen Nigeria’s financial stability, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has officially inaugurated the new leadership team of the Nigeria Deposit Insurance Corporation (NDIC).
The inauguration ceremony, which took place at the Ministry of Finance in Abuja, marks a new chapter for NDIC – an institution that plays a key role in protecting depositors and promoting trust in Nigeria’s banking system.
Leading the NDIC into this new era is Mr. Thompson Oludare Sunday, appointed as Managing Director/CEO, alongside Dr. Kabir Sabo Katata, who now serves as the Executive Director of Operations.
As Nigeria works to achieve economic stability and inclusive growth, strong leadership in financial regulatory bodies like NDIC is essential. This new management team is expected to bring innovation, experience, and integrity to the role.
While welcoming the new executives, Minister Edun emphasized NDIC’s important role in Nigeria’s economic development.
“NDIC is a critical part of Nigeria’s financial safety net. We expect the new leadership to use their vast expertise to support the nation’s economic transformation,” he said.
He also pledged the Ministry’s full support as the team begins its mandate.
In his response, Mr. Thompson Sunday thanked President Bola Ahmed Tinubu for the opportunity to serve and assured the Honourable Minister of his commitment to fulfilling the NDIC’s mission.
“We’re ready to meet the expectations of the President and the Nigerian people,” Mr. Sunday said.
Later at the NDIC Head Office, he addressed staff, promising to foster teamwork and align the Corporation’s goals with national policy and financial sector reform.
Mr. Sunday brings over 30 years of experience in financial regulation, having worked extensively with the Central Bank of Nigeria (CBN) since 1989. His areas of expertise include:
- Banking supervision
- Risk management
- Corporate governance
- Financial compliance
He is widely respected for promoting transparency, institutional reform, and operational excellence.
Dr. Katata is a computational finance and energy strategy expert, with more than 28 years of multi-industry experience, including:
- Risk management in power and finance
- Statistical modeling and financial optimization
- Innovation in the telecom, energy, and banking sectors
He joined NDIC in 2012 and has steadily climbed the ranks, becoming a Director in 2022.
With this new leadership, the NDIC is poised to drive forward its mandate of deposit protection, financial sector stability, and consumer confidence in Nigeria’s banking ecosystem.
Their combined skills will be instrumental in achieving President Tinubu’s broader vision for economic reform and financial inclusion.
