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 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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