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Saturday, 23 July 2016

NDIC wants stiffer sanctions against banks, officials aiding non-performing loans

The Nigeria Deposit Insurance Corporation (NDIC) on Friday decried the increasing level of non-performing insider loans in various banks, saying they were negatively impacting the stability of the country’s banking system.
The Managing Director/Chief Executive of the Commission, Umaru Ibrahim, said steps must be taken to ensure that stiffer sanctions were issued against perpetrators.
Mr. Ibrahim told the newly elected President/Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN), Segun Ajibola, in his office that the development had raised a huge credibility question capable of eroding public confidence in the banking system.
He demanded stricter compliance with the existing code of conduct, as well as a comprehensive review of the existing laws and regulations to provide stiffer penalties for directors of banks who take advantage of their positions and failed to pay back their loans.
The NDIC boss said casual staff, who account for about 25 per cent of the banking industry workforce, have a negative impact on the industry.
Mr. Ibrahim expressed concern that some banks assign sensitive roles to casual staff, thereby exposing the banking industry to fraud.
On the recent staff rationalisation in some banks, Mr, Ibrahim urged the banks to exercise caution so as not to create unrest in the industry.
He called on the CIBN to intervene by advising its members on the aim of the rationalisation which should be to weed out bad eggs from the industry.
The NDIC Chairman emphasized that the Corporation would continue to partner with the CIBN and other professional bodies towards achieving effective capacity building among its staff.
Mr. Ibrahim disclosed that 77 members of staff of the Corporation were currently undergoing the Bangor/CB MBA programme, which commenced three years ago.
The Bangor/CB MBA programme is an initiative of the NDIC, the CIBN and the Bangor University, Scotland, where staff of the Corporation undergo up to 24 months training programme and graduate with dual certification: an MBA and Chartered Banker of Scotland.
About 14 members of staff had already graduated from the programme.
He further requested the CIBN to fast track the accreditation of the Corporation’s Training Academy and the introduction of the deposit Insurance System (DIS) in the institute’s curricula in order to broaden the scope of professionalism in the banking industry.
The president/chairman of Council of the Chartered Institute of Bankers of Nigeria (CIBN), Segun Ajibola, thanked the Corporation for positive contributions to the programmes of the institute and its support towards the establishment of the CIBN Bankers House in Abuja.
Mr. Ajibola also commended the corporation for its contribution in ensuring stability in the banking system.
The president/chairman of Council of the CIBN assured the MD/CEO that the accreditation committee of the institute would soon visit the NDIC Academy.
He however appealed to the MD/CEO on the need for further collaboration with the institute on training and other issues of mutual interest.
On staff casualization in the banks, Mr. Ajibola pledged to table the matter at the CIBN’s next meeting with banks’ CEOs with a view to addressing the issues. He stated that efforts were being put in place by the CIBN to enhance the capacity of bank staff, particularly in credit administration.

Ondo 2016: Justice commissioner resigns to contest governorship election

The Ondo State Commissioner for Justice, Eyitayo Jegede, on Friday resigned his appointment in preparation to contest the governorship election come November this year.
Mr. Jegede is aspiring to be governor on the platform of the People’s Democratic Party.
His aspiration is presently creating disquiet within the party, as he is seen as Governor Olusegun Mimiko’s anointed candidate.
Some aspirants under the PDP have protested the seeming imposition, saying it may result in the party failing to win the governorship election.
Mr. Jegede, in a statement, said his exit was to enable him focus more on his desire to seek a higher office in service of his people which would demand a lot of energy, time and sacrifice.
He thanked Mr. Mimiko and the people of Ondo state for the unique opportunity to serve, noting that his stint in office enabled him to work in various sub-committees of the State Executive Council and effectively and efficiently represented the interest of the State in various Boards as directed by the governor.
Mr. Jegede said among the notable achievements of his stay in office include “supervision of the review and publication of Laws of Ondo State, the first since the inception of the sunshine state, signing into law the Administration of Criminal Justice Law 2015 by Governor Olusegun Mimiko as prepared by the Ministry of Justice in addition to other novel measures that have helped revolutionalised administration of justice”.
After resigning, Mr. Jegede rode in a motorcade followed by his supporters to the palace of the Deji of Akure, announce his intention to run in the governorship election and to receive a royal blessing in the venture ahead.
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