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NDIC boss tasks auditors on accuracy, integrity

Felix Oloyede

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NDIC boss tasks auditors on accuracy, integrity

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan has encouraged professional auditors, who are members of the Institute of Chartered Accountants of Nigeria (ICAN), to uphold the core values of “Accuracy and Integrity”, which is also the motto of the Institute, in order to earn public confidence and respect within the financial services industry.
He said this during a courtesy visit by the ICAN National President represented by one of the Council Members, Mrs Sofura Seghosime and Chairman of Abuja District, Mrs Bosede Ikhanoba and other ICAN Executive Members to the NDIC head office in Abuja.
Hassan explained that both the NDIC and Central Bank of Nigeria (CBN) relied on the works of third parties which include external auditors and reporting accountants in the Risk-Based Supervision (RBS) of deposit-taking institutions. He, therefore, stressed the need for ICAN members to ensure strict compliance to the high standards expected by the institutions in the discharge of their responsibilities.
Hassan said: “We place a lot of reliance on the work of external auditors that audit our banks or rather all deposit-taking financial institutions. We want to see consistency in the way accountants express opinions over audited financial statements.
Hassan pointed out that among the Nation’s MDAs, the Corporation has one of the largest numbers of chartered accountants amongst its workforce. He, therefore, reiterated the Corporation’s commitment towards continued collaboration with the Institute in enhancing the skill and capacity of members in its employment.
Earlier, the Council Member in the company of the Abuja District Chairman had said they embarked on the visit on behalf of the Institute’s National President, Dame Onome Joy Adewuyi to solicit the collaboration of the NDIC in the Golden Jubilee Annual Conference of ICAN which was already scheduled to hold between 5th and 9th April 2021.

She congratulated Hassan on his recent appointment as NDIC’s MD/CE, noting that this was a testimony to his vibrancy, hard work and invaluable contributions to the growth of the banking sector for over 30 decades.

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