NDIC Strengthens Procurement Capacity Amid Banking Reforms

The Nigeria Deposit Insurance Corporation (NDIC) is strengthening its procurement capacity to improve efficiency, transparency and accountability as reforms continue across Nigeria’s banking sector.

NDIC Managing Director and Chief Executive Officer, Thompson Oludare Sunday, disclosed this in Lagos during a three-day capacity development programme for senior management and executive staff. The Bureau of Public Procurement (BPP) organised the programme in collaboration with the Corporation.

Sunday said an effective procurement system remains essential to the NDIC’s ability to carry out its responsibilities, including deposit guarantee, resolution and liquidation of failed financial institutions, as well as prudential regulation and supervision of banks.

“There is no gainsaying the fact that procurement is a very integral part of our activities as a deposit insurance organisation,” he said.

The workshop, themed “Driving Excellence through Transparency, Compliance and Efficiency,” focused on public procurement reforms, the Public Procurement Act 2007, procurement planning, records management, implementation, methods and applicable thresholds.

Sunday said working with the BPP would help the NDIC strengthen compliance and improve its procurement processes.

“Having the BPP with us this afternoon is such a great achievement, and we need to continue to speak about procurement in the Corporation.”

BPP Director-General, Dr Adebowale A. Adedokun, said the programme reflected the NDIC’s recognition that effective governance depends on institutional integrity, policy compliance, professional competence and responsible management of public resources.

Adedokun also described public procurement as more than an administrative process, saying it should serve as a strategic governance tool for supporting economic growth, strengthening institutions and delivering value for money.

How can stronger procurement systems improve efficiency across Nigeria’s public institutions?