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The Nigeria Deposit Insurance Corporation (NDIC) 2023/2024 Recruitment : All You Need To Know
The Nigerian Financial Institution is the body responsible for monitoring and managing anything that has to do with money.
This body is headed by the central bank of Nigeria (CBN). This governmental and financial organization gives directories to other financial institutions.
For effective curbing of the financial institutions’ excesses, a regulatory body was set up under the Nigeria Ministry of Finance called the Nigeria Deposit Insurance Corporation (NDIC).
The Nigeria Deposit Insurance Corporation (NDIC) Recruitment
It is first important to confirm if the NDIC recruitment is ongoing or not as that will prevent from falling into scammer’s trap. To confirm, visit the organization’s recruitment portal by clicking here
NDIC Requirements For All Job Seekers
Below are the general requirement to gain employment to the Nigeria Deposit Insurance Corporation:
- Five credit in your SSCE — WAEC, NECO, GCE, NABTEB — in Maths and English including three other subjects in one sitting.
- Bachelor’s Degree with a minimum of Second Class Honour (and other equivalents) from any recognized institution.
- Certificate of National Certificate or Exemption letter.
- Master degree in any science discipline
- Ability to explore or operate some basic computer packages (Microsoft Word, PowerPoint, Excel, etc)
- Gender is never a barrier because both female and males can apply, provided you meet the requirements.
- Work experience and professional qualification in marketing and efficient selling is also a plus.
Why You Should Desire Working With NDIC?
There are so many reasons why NDIC is one of the best organizations to be in Nigeria, but only a few of them are stated as follows;
* Impressive Salary Structure: The NDIC is a nice place to work because it has a nice pay. Its payment is averagely 170 thousand naira per month. For details of payment per division or section, click here.
* A Very Conductive working Environment
Brief Chronicle Of The Nigeria Deposit Insurance Corporation (NDIC)
This body was created on the 15th of June, 1988 so that the banking sector, which was newly liberalized during that time, can have a strengthened safety net.
The establishment of the organization was first proposed by the formal CBN Governor Ola Vincent.
The Nigeria Deposit Insurance Corporation has put in place a safety net that will help the depositors to make full use of the banking sector.
The NDIC is a suburb of the finance ministry. This body is responsible for the protection of the banking sector from instability caused by customer’s or depositor’s lack of trust in the banking industry.
The body takes its functionality from the Nigeria Deposit Insurance Corporation Act (1990). The NDIC is part of the councils responsible for the coalition and declaration of Nigeria’s annual financial reports (Financial Reporting Council Of Nigeria).
The NDIC also assists in the supervisory and regulatory assignment of the CBN, although, it is subjected to the Federal Ministry of Finance’s order and directives.
It gives advice to the CBN concerning distressed bank liquidation and also manages the assets of the distressed bank until they are fully liquidated.
The Nigeria Deposit Insurance Corporation has the function over all insured banks in the country. The NDIC Chief executive said that the corporation is having over 500 cases of corruption and abuse among banks awaiting the police prosecution in April 1996.
Activities Of The Nigeria Deposit Insurance Corporation (NDIC)
As a citizen of Nigeria or job seeker who desires to work with this corporation, it is important that you have knowledge of the activities the carried out in the country’s banking sector. Its activities involve the following:
- It Acts As A Liquidator Of Banks That Fail To Meet Up With Every Obligation Stated By The Central Bank
A demonstration of this was carried out in February, 2002 when the Central Bank Governor (Joseph Oladele Sanusi) gave the notice to withdraw the Savannah Bank’s license due to the claim that the bank lacks sufficient asset to handle its liabilities.
After the directive, The NDIC indeed stepped in as a liquidator by sealing up the bank’s offices.
- It Ensures Legal Action On Managers And Others Who Failed To Live By Bank’s Code Of Conduct
There are sometimes when NDIC have ensured that legal action is taken on bankers who cause the failure of insured banks.
Similar case was reported of how the Chief Executive of the organization in 2000 revealed how IG of Police Mike Okiro failed to pay the loan of 166 billion naira he obtained from the lead bank between 2000 and 2001.
- It Makes Arrangement For The Taken Over Of Assets And Liabilities Of A Failed Bank
According to the Purchase and Assumption arrangement, The Nigeria Deposit Insurance Corporation can arrange for the transfer of the assets and liabilities of any bank that has failed in its obligation to another bank capable of handling it.
For instance, in 2007 October, the United Bank for Africa (UBA) took up the fixed asset and liabilities of African Express Bank based on the instruction of the NDIC and CBN.