The Nigeria Deposit Insurance Corporation (NDIC) has sought an enhanced collaboration with the Economic and Financial Crimes Commission (EFCC) to strengthen its mandate. The NDIC’s Managing Director, Thompson Oludare Sunday, led a team to visit EFCC Chairman Ola Olukoyede, emphasizing the need for closer ties. Sunday highlighted the importance of leveraging EFCC’s expertise in asset tracing, recovery, and management, particularly for banks in liquidation.
The EFCC and NDIC have a longstanding partnership, with the EFCC supporting NDIC’s investigations and NDIC providing training support to EFCC. Olukoyede pledged to amplify the working relationship, describing the agencies as “inseparable twins”. He emphasized stimulating the economy through the anti-graft war and enhancing other government agencies’ capacities.
Olukoyede highlighted his policy directive to leverage productive entities and strengthen internal processes, establishing a new department for Fraud Risk Assessment and Control. He invited NDIC to collaborate on fine-tuning systems and cleaning the financial ecosystem, saying, “We don’t have to always wait for money to be stolen. Let us work together to make sure our financial ecosystem is clean”.
