The Nigeria Deposit Insurance Corporation (NDIC) has called for enhanced collaboration with the Economic and Financial Crimes Commission (EFCC) to strengthen the delivery of its statutory mandate and promote stability in the financial system.
The appeal was made on Friday, January 23, 2026, when the Managing Director and Chief Executive of the NDIC, Mr. Thompson Oludare Sunday, led a management team on a courtesy visit to the Executive Chairman of the EFCC, Mr. Ola Olukoyede.
Speaking during the visit, Mr. Sunday said the engagement was aimed at formalising and deepening cooperation between both institutions. He stressed the need to strengthen institutional synergy and explore additional areas of mutual support in the interest of national financial system stability.
He noted that the EFCC had remained a key partner to the NDIC over the years, expressing optimism that the relationship would be expanded for greater impact. According to him, the NDIC seeks to leverage the EFCC’s technical expertise in asset tracing, recovery and management, particularly in cases involving debtors of banks in liquidation.
Mr. Sunday also highlighted the NDIC’s statutory responsibility to prosecute individuals whose actions contribute to bank failures, adding that closer collaboration with the EFCC in this area would significantly enhance enforcement and recovery efforts.
In his response, Mr. Olukoyede acknowledged the longstanding collaboration between both agencies and pledged to further strengthen the partnership. He described the NDIC and EFCC as long-standing partners, noting that while the EFCC had supported the NDIC in investigations, the NDIC had reciprocated through training support.
He assured that the mutually beneficial relationship would not only continue but be elevated to a higher level.
Mr. Olukoyede further explained that his policy focus was to align the anti-corruption drive with economic growth by strengthening productive institutions and enhancing the capacity of government agencies. He disclosed that the EFCC had established a new Department of Fraud Risk Assessment and Control to proactively prevent financial crimes rather than reacting after funds had been stolen.
Emphasising the importance of preventive collaboration, he said the EFCC was willing to work closely with the NDIC and other stakeholders to strengthen systems, design fraud risk assessments and promote a cleaner financial ecosystem.
