Senate Confirms Oludare Sunday – A New Era Begins At NDIC

The Nigerian Senate has approved the appointment of Oludare Sunday as the new Managing Director of NDIC.

The Senate has also confirmed Kabir Sabo Katata as Executive Director of the Nigeria Deposit Insurance Corporation (NDIC). His confirmation followed the presentation of a report by the Committee on Banking, Insurance, and Other Financial Institutions.

While presenting the report on Thursday, Committee Chairman Tokunbo Abiru, who represents Lagos East Senatorial District, stated that both nominees were thoroughly vetted and found competent for their respective roles. He added that no petitions were lodged against them, and they had received security clearance.

Abiru emphasized that the appointments comply with the NDIC Act, 2023, and that the nominees demonstrated the required knowledge, expertise, and professional experience to lead the institution. “After engaging extensively with the nominees and being satisfied with their qualifications and performance, the committee recommends their confirmation,” he said.

Deputy Senate President Barau Jibrin praised the committee for its diligent work, noting that the report was comprehensive and well-executed thanks to the dedication of its members.

President Bola Tinubu had submitted the nominations to the Senate in May. The Senate President, Godswill Akpabio, read the nominations on the chamber floor before referring them to the appropriate committee for screening.

With their confirmation, Oludare Sunday and Kabir Katata are now set to assume key leadership roles at the NDIC, with a mandate to enhance stability in Nigeria’s financial and banking sector.