NDIC, EFCC Move to Strengthen Partnership
The Nigeria Deposit Insurance Corporation (NDIC) has called for closer collaboration with the Economic and Financial Crimes Commission (EFCC) to enhance the stability of Nigeria’s financial system.
The call was made on Friday, January 23, 2026, when the Managing Director and Chief Executive of NDIC, Mr. Thompson Oludare Sunday, led members of the corporation’s management team on a courtesy visit to the EFCC Executive Chairman, Mr. Ola Olukoyede.
Speaking during the visit, Sunday said the engagement provided an opportunity to deepen institutional synergy and expand cooperation between both agencies. He noted that the EFCC has remained a key partner of the NDIC and expressed the corporation’s desire to further strengthen the relationship for more impactful outcomes.
He explained that the NDIC seeks to leverage the EFCC’s expertise in asset tracing, recovery and management, particularly in cases involving debtors of banks in liquidation. Sunday also stressed the NDIC’s statutory responsibility to prosecute individuals whose actions contribute to bank failures, adding that closer collaboration with the EFCC would be critical in this regard.
In his response, Olukoyede reaffirmed the long-standing partnership between both agencies, describing them as “inseparable twins” that have worked together for years. He highlighted the EFCC’s support to NDIC in investigations and NDIC’s contributions to EFCC through capacity-building and training, pledging to further strengthen the mutually beneficial relationship.
Olukoyede added that the EFCC’s broader strategy is to align the anti-graft war with economic stimulation by strengthening productive institutions and supporting other government agencies through targeted interventions. He disclosed that this approach led to the creation of a Fraud Risk Assessment and Control department aimed at preventing financial crimes before they occur.
According to him, proactive collaboration with key stakeholders such as the NDIC is essential to strengthening internal systems, improving fraud risk management and ensuring a cleaner and more resilient financial ecosystem.
