The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has formally inaugurated the new management of the Nigeria Deposit Insurance Corporation (NDIC), with Mr Thompson Oludare Sunday on the saddle.

The ceremony, held at the Ministry of Finance headquarters in Abuja, marked the official swearing-in of Thompson Oludare Sunday as the new Managing Director/Chief Executive Officer, and Dr. Kabir Sabo Katata, Executive Director (Operations).

Speaking during the inauguration, Edun affirmed the NDIC’s critical role in safeguarding the country’s financial system. He described the Corporation as a key pillar in Nigeria’s financial safety net and a strategic player in the federal government’s economic stability agenda.

“The NDIC is instrumental to our nation’s journey towards sustained economic growth. I urge the new management to deploy their wide-ranging experience and expertise to strengthen the Corporation’s mandate,” the Minister said, pledging the ministry’s full backing for the new leadership team.

In his remarks, Mr. Sunday, who spoke on behalf of the new management, expressed gratitude to President Bola Ahmed Tinubu for the opportunity to serve. He assured the Minister of their collective readiness to deliver on the administration’s expectations and uphold public trust in the NDIC’s operations.

Following the inauguration, the new management was warmly received at the NDIC Headquarters by members of staff. Addressing the workforce, Mr. Sunday emphasized the Corporation’s renewed focus on its core mandate, as outlined in the enabling Act.

“We will work hand in hand with all staff to elevate the Corporation to new heights. Our direction will remain anchored on sound public policy, institutional efficiency, and regulatory excellence,” he assured.