President Muhammadu Buhari has approved the reconstitution of the Board of the Nigeria Deposit Insurance Corporation (NDIC) and the appointment of some new members and the reappointment of some existing members to the Board.
The appointment of the existing members of the Board whose four-year term became effective on 9th December 2018 expired on 9th December 2022.
NDIC operates a four-year semester system for its Board, therefore, the Board stands dissolved at the end of the tenure of the first appointment
A statement from the Federal Ministry of Finance, Budget and National Planning said the new appointments and reappointments had become necessary “to avoid vacuum”.
The new appointees are Dr. Abdulhakeem Mobolaji Abdullateef, (Chairman) from Southwest zone; Prof. Osita Ogbu, from Southeast Zone; Umar Gambo Jibrin from Northcentral Zone; Mohammed Attahiru Haruna from Northeast Zone; Yasmin Zabath Dalhatu from Northwest zone; Simon Ogie from Southsouth Zone; Abimbola Olashore Southwest Zone.
Those representing their institutions on the NDIC Board are: Muhammed Ali, Director Home Finance, member (Rep of Federal Ministry of Finance, Budget and National Planning); Haruna B. Mustapha, Director Banking Supervision Department, member (Rep of Central Bank of Nigeria).
The reappointed members are: Bello Hassan, Managing Director; Mustapha M. Ibrahim, Executive Director Operations; and Mrs. Emily Osuji, Executive Director Corporate Services.
The statement read, “The appointment of the existing members of the board whose four-year became effective on 9th December, 2018 expired on 9th December, 2022. It is noteworthy that irrespective of the tenure of the appointment, NDIC operates a semester system for its board. Therefore, the board stands dissolved at the end of the tenure of first appointment.
“The board has five other members whose membership is by virtue of institutional or office representation in line with the provision of Section 5 (2 c and d) of the NDIC, Act, 2006.
“It becomes imperative to reconstitute the governing board the NDIC to avoid vacuum, ensure smooth operations of the corporation and ultimately boost the confidence of stakeholders and clients within the financial and banking sectors of the nation’s economy.
“In the light of this, the new governing board is reconstituted through the appointment of five new members including the chairman to form a new board of directors to oversee the affairs of the corporation for the next four years.”
Dr Abdullateef, a lawyer, previously served as Member, Lagos State House of Assembly Oshodi/Isolo Constituency II, before he was appointed Special Adviser to the Lagos State Governor on Political and Legislative Powers, then later as Commissioner for Home Affairs, Lagos State government.
He is a member of the Nigerian Bar Association (NBA) and holds LLB and LLM degrees from the University of Lagos and a Master in Business Administration (MBA) from the Business School, Netherlands.
He completed his Ph.D at the Nigerian Institute of Advanced Legal Studies.