Nigeria Deposit Insurance Corporation, NDIC, has attributed the delay in its efforts to prosecute those involved in failed banks in the country to the country’s justice system.
Head of Corporate and Public Affairs Unit of NDIC, Mr. Hadi Sule Birchi, told newsmen on the sideline of Deposit Insurance Service, DIS sensitisation seminar for Batch A 2015 corps members at the National Youth Service Corps, NYSC, Orientation Camp, Nonwa in Tai Local Government Area of Rivers State, that incessant adjournments by judges of cases involving the accused in the failed banks saga have been a bottle neck in dispensing justice in Nigeria over the years.
He said: “The judiciary that we know, it is not their fault; but there are so many things we call factors. You can get somebody who is a debtor, a criminal debtor, because the bank was even acquired illegally. But the day you will take him to the court, he pleads not guilty. Next time the case is adjourned, they will tell you that he did not come to court because he is in the hospital. The person may be abroad or somewhere in one hotel.
“This is the issue; this is the nature of the country and I believe that if you remember the failed banks tribunal, once you are arraigned before the court, even if you did plead guilty or not, before you can get bail, you have to pay half of the money. Then NDIC was able to recover a lot of money from those arraigned,” he said.
Birchi explained that the deposit insurance is relatively new to Nigerians, adding that the corporation decided to take the sensitisation campaign of corps members, so that Nigerians will begin to appreciate the essence of insurance and banking.
“Deposit insurance is something new and a lot of people do not know anything about it. That is why we took the pains to come here to sensitise the corps members about the benefits of deposit insurance. Everybody is a potential depositor and I believe that if NDIC can start from here; it is more than what we call ‘catch them young’, we will be able to appreciate the essence of banking and insurance. The whole idea is to ensure safety, soundness, and efficiency of the banking system in the country.
“The whole essence of the sensitisation seminar is to enhance public awareness on the mandates of the NDIC. Deposit insurance is a novelty. It is knowledge-based. In 2003, the International Association mandated all deposit insurance corporations in the country to set aside a week to create awareness on deposit insurance,” he stated.

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