Managing Director/ Chief Executive, Nigeria Deposit Insurance Corporation (NDIC), Alhaji  Umiru Ibrahim has described his investiture as a Fellow of the Chartered Institute of Nigeria (CIBN) as a challenge to the Corporation to live up to expectation in the discharge of its responsibilities.

Addressing journalists at the sideline of the 2012 Fellowship Investiture of the Institute in Lagos, Ibrahim said “I believe the CIBN thought fit to give this honour to me and to the NDIC, since I represent the NDIC. And it also goes to the founding fathers who toiled hard to make sure that NDIC is well positioned, and is rooted and founded in professionalism, competence, integrity, and fairness.

“At the Corporation, we  have tried as much as we can to build on these values, and that is why I also see the Fellowship as a challenge not only to me but also to the staff of NDIC that we should live up to expectations.”

He said that Corporation is committed to the cost effective  resolution of  banking distress as witnessed in the last six years, where the Corporation deployed the employed ‘Bridge Bank” and “Purchase and Assumption” strategies, which ensured preserved depositors’ funds  the problem banks.

He said: “The kind of measures we take in the resolution of banking distress or problems will be dictated by the size of the problem and the complexities of the problem. But we hope that there would be no lose of depositors’ funds, so far there are measures that would ensure cost effectiveness in terms of resolutions strategies, we would continue to take those measures. Measures that is least costly to the tax payers, to the government, to the depositors and to the industry as a whole. That is our target. That is our goal.”