The newly appointed management of the
Nigeria Deposit Insurance Corporation (NDIC) has pledged to sustain the pursuit of the mandate to ensure financial system stability in the country.
The new leadership, which has Thompson Oludare Sunday as the new Managing Director/Chief Executive Officer, with Dr Kabir Sabo Katata as the Executive Director (Operations), was announced on Friday in Abuja.
The new MD succeeds Mr. Bello Hassan who retired from office last month.
At the inauguration of the new management in Abuja, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, urged the NDIC to recognize the crucial role it has to play as a component of the financial safety-net in the nation’s march to economic stability and prosperity.
He charged the management team to bring their diverse wealth of experience to bear on their new assignment, while assuring them of the ministry’s full support in the task ahead.
In his response, the new MD/CEO, who spoke on behalf of the other members of the management team, expressed appreciation to President Bola Tinubu for their appointments.
He assured the Minister of the readiness of the management under his leadership to live up to expectations of the President in particular and the nation in general in the discharge of their duties, particularly their efforts to sustain the mandate of the Corporation to ensure financial system stability.
Meanwhile, at the Corporation’s Head Office, the new management team was accorded a rousing welcome by the workforce who came out to receive the new MD and the other members.
Addressing the workers during brief reception ceremony, the MD promised that his team would work in harmony with the staff to move the Corporation to its next level performance.
He stressed that the Management’s focus would be based on the public policy objectives, functions and mandate devolved to the Corporation by the enabling law that established it.
Brief Profile
Thompson Oludare Sunday is a seasoned financial expert with over 30 years of regulatory and supervisory experience.
Having cut his teeth with the Central Bank of Nigeria (CBN) in 1989, he went ahead to acquire high-end knowledge in Central Banking, spending 24 unbroken years in banking supervision. While his vast experience is in the regulation and supervision of licensed institutions, his deep expertise span corporate governance, risk management and compliance as a veritable tool for ensuring the safety and soundness of institutions.
He is a highly analytical and cross functional team worker with strong interest in building individual and institutional capacity for transformation and excellence.
Thompson’s skills and experience were honed by several key responsibilities and special assignments he handled for the apex Bank before his retirement as a Director in 2021.
The ED (Operations), Kabir Sabo Katata is a quantitative energy strategist and computational finance expert with strong power trading and risk management experience.
He has over 28 years’ experience in the design and management of technically innovative systems in multiple industries, including telecommunications, IT, energy (petroleum & power), finance and government. He is a specialist in sophisticated financial optimization, the application of modern statistical techniques and mathematics to energy, deposit insurance and banking sectors.
Dr. Katata joined the service of the NDIC in 2012 as an Assistant Director in the Research, Policy and International Relations Department, rising to the pinnacle of his career as Director in January 2022, before his new appointment as Executive Director (Operations).
