AbdulHakeem AbdulLateef, the newly-appointed chairman of the Nigeria Deposit Insurance Corporation (NDIC), has asked friends and associates to stop putting unnecessary pressure on him with requests....CONTINUE READING
Writing on his verified Facebook page on Friday, May 19, AbdulLateef declared that he will not award any contract throughout his tenure…..CONTINUE READING
Why I won’t award contracts, new NDIC boss, AbdulLateef
AbdulLateef said he would avoid awarding contracts because it “is not a part of my responsibilities”.
Furthermore, the former Lagos commissioner vowed not to interfere in the functions of management as he is only at the NDIC ‘to lead the governing board of NDIC in good corporate governance’.
He said:
“Stop putting pressures [sic] on me with requests. I will not honour your requests. I am going to be very different. I am ready to lose friends and relationships.
“I will not award any contract throughout my tenure because that is not a part of my responsibilities.”
Awarding contracts in Nigeria and how some deals breed corruption
A 2021 investigation by MAWA Foundation uncovered how Nigerian government Ministries, Departments and Agencies (MDAs) have continuously violated procurement rules in awarding contracts, actions that have helped undermine development and breed corruption.
Although there exist laws that regulate contract awards in Nigeria to ensure that there is no room for corruption, the investigation by MAWA Foundation uncovered how MDAs are engaged in an apparent abuse of the laws.
The exposé revealed that MDAs are awarding contracts in total disregard and breach of the law.
NDIC asks depositors of 20 failed banks to come for claims payment
Meanwhile, Legit.ng earlier reported that the NDIC asked customers of 20 failed banks in Nigeria to come for verification and payment of their deposits that are more than the guaranteed sums known as liquidation dividends.
The Managing Director and Chief Executive Officer of NDIC, Bello Hassan, made the call while delivering a speech at the Corporation’s special day at the 36th Lagos International Trade Fair.
NDIC begins customers’ verification of failed bank 20 years ago
Legit.ng also reported that the NDIC has started verifying the insured depositors of Peak Merchant Bank in liquidation.
This is in line with its duty of deposit guarantee and reimbursement of depositors in case of bank failure…..CONTINUE READING
