JUST IN: SENATE CONFIRMS OLUDARE, KATAKA AS NDIC MANAGING DIRECTOR AND EXECUTIVE DIRECTOR

June 26, 2025June 26, 2025

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By Aishat Momoh. O.

The Senate on Thursday confirmed the appointments of Oludare Sunday and Kabir Kataka as the new Managing Director and Executive Director of the Nigeria Deposit Insurance Corporation (NDIC), respectively.

The confirmation followed the presentation of a report by the Senate Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Adetokunbo Abiru (APC, Lagos East).

Presenting the report, Abiru urged the upper chamber to approve the nominations, noting that both candidates had met the necessary qualifications and passed the screening process.

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President Bola Tinubu had earlier in May nominated the duo and forwarded their names to the Senate for screening and confirmation in line with statutory procedures. The Senate President, Godswill Akpabio, read the President’s request on the floor of the Senate before referring it to the relevant committee.

With Thursday’s approval, Oludare and Kataka are set to assume their roles at the NDIC—an institution vital to ensuring depositor protection and maintaining stability in Nigeria’s financial sector.

Their appointments are seen as part of broader reforms to reinforce public confidence in the country’s banking system.