TSA’ll boost banks’ deposit mobilisation sources, says NDIC

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The full implementation of the Treasury Single Account (TSA) has offered banks with an opportunity to look outside the government for deposit mobilisation, The Managing Director, Nigeria Deposit Insurance Corporation (NDIC) Umaru Ibrahim, has said.

He said that the full implementation of the government policy signaled that the era of arm-chair  banking in Nigeria was over.   
He reminded that the industry had been warned about three years ago  to  take steps  that  would enable them to mobilize deposits outside the government.
 
He dispelled the fear of mass retrenchment in the system due to the TSA policy and emphasised   that organisational renewal was a continuous exercise whereby banks not only rationalise their  branches  and  entire  operations  to  enhance  efficiency  but  also  undertake recruitment to renew their human capital.

Meanwhile, the Vice President, Yemi  Osinbajo, has commended the NDIC for donating   the  Directorate  of  Research building complex to the NIPSS. 

The  Vice President,  who was represented by  the Director  of  Administration in his Office,  Ibrahim  Yabani , praised  the  Corporation for  identifying  with  the infrastructural  needs of  the National  Institute.

He   said that the  Federal  Government  was  appreciative  of  the  NDIC’s gesture and asked organisations in both the public and private sectors to emulate the Corporation. 

He  expressed  optimism  that  the  building  complex  would  not  only provide conducive environment for research but also charge the Institute to apply itself  towards  formulating  policies  that  would  accelerate  socio-economic development in the country.

In his remarks,  the NDIC’s boss, Ibrahim said that the Corporation took the bold step to extend its gesture to the institute as part of its Corporate Social  Responsibility (CSR) initiative, which started about 10 years  ago. 

He  also  reiterated  the  Corporation’s  readiness  to  continue  to  support educational institutions in order to advance academic standards nationwide.

The Director-General  of  the  Institute,  Prof.  Tijani Mohammed  Bande,  expressed appreciation to the NDIC for responding to the challenge of office accommodation in the institute.

He said that the problem of inadequate office space for staff of the Research Directorate compelled the institute to seek for assistance to build the office complex.

While pledging that the complex would be judiciously utilised, Bande appealed to other corporate organisations and public spirited individuals to support the Institute in infrastructural development.

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