NDIC Submits 2014 Financial Result to FRC | Independent Newspapers Limited
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NDIC Submits 2014 Financial Result to FRC

Posted: Jun 12, 2015 at 12:44 am   /   by   /   comments (0)

By Bamidele Ogunwusi  –  Lagos


The Nigeria Deposit Insurance Corporation (NDIC) has submitted its 2014 audited financial statement to the Financial Reporting Council of Nigeria (FRCN), in fulfillment of its transparent policy and in accordance with the International Financial Reporting Standards (IFRS).

The Council’s Head of Inspection and Monitoring, Mr. Titus Osakwe who received the report on behalf of the Executive Secretary of the Council, Mr. Jim Obazee, commended the NDIC for what he described as the corporation’s regular rendition of its financial statements to the Council.

While presenting the report to FRCN, the Director of Bank Examination, Mr. Adedapo Adeleke, who represented NDIC’s Managing Director and Chief Executive, Alhaji Umaru Ibrahim, said the Corporation took the issue of stewardship to its stakeholders as top priority.

Adeleke described the FRCN as an important institution whose activities were geared toward aligning the operations of Nigerian business concerns with international best practices.