The investigation aims to hold accountable those found responsible for the bank’s collapse, in accordance with Article 12 of the Core Principles of Effective Deposit Insurance. This principle mandates deposit insurers like the NDIC to establish mechanisms for bringing to justice parties culpable in the failure of their bank or financial institution.
The NDIC, in collaboration with law enforcement agencies, will leave no stone unturned in its quest to unravel the circumstances surrounding the bank’s collapse. The Corporation is committed to ensuring that those responsible for the bank’s failure are held accountable for their actions, and that the interests of depositors and other stakeholders are protected.
The investigation is ongoing, and the NDIC will provide updates as necessary. The Corporation urges anyone with information relevant to the investigation to come forward and assist in ensuring that those responsible for the bank’s failure are brought to book. The NDIC remains committed to maintaining the stability and integrity of Nigeria’s financial system, and to protecting the interests of depositors and other stakeholders.
