BY RAPHAEL EKPANG,ABUJA
The Managing Directors of NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC), UMARU IBRAHIM and the NIGERIA EXPORT-IMPORT BANK, NEXIM, ABBA BELLO have both lauded the Senate committee on banking, insurance and other financial institutions on operational synergy.
They made this known on Wednesday during an interaction session with members of the of the Senate committee on Banking, Insurance and other financial institutions.
The Managing Director of Nigeria Export Import Bank (NEXIM), ABBA BELLO observed that the major problem of exporters is the paucity of funds, adding that banks are usually reluctant to finance export transactions particularly at the pre-shipment stage because of the higher risk of default involved.
“We will make your work in the committee easy. It seems we have shared and joint responsibilities to see to the development of not just the financial system, but also of the Nigerian economy generally,” he said.
BELLO however praised the SENATOR SANI UBA led committee and its efforts to partner with them to enhance operations of financial
IBRAHIM noted that such periodic interaction will enhance better understanding of the NDIC by the upper legislative chamber.
In the same vain, the NDIC boss said he was pleased to honour the invitation extended to them by the senate, pointing out that the meeting has offered them the opportunity to interact with members of the committee with the view to understand each other for a better working relationship that will help in building the nation financial institutions.
According to him the committee understood and appreciated the role of NDIC and the challenges ahead of them as well as how they are poise in tackling those challenges.
