The Nigerian Senate on Thursday confirmed Oludare Sunday as the new Managing Director and Kabir Kataka as the Executive Director of the Nigeria Deposit Insurance Corporation (NDIC).
Their confirmation came after the presentation of a report by the Senate Committee on Banking, Insurance, and Other Financial Institutions, led by Senator Adetokunbo Abiru (APC, Lagos East).
While presenting the committee’s findings, Senator Abiru urged the Senate to approve the nominations, stating that both candidates met the necessary qualifications and passed the screening process.
He said, “The Senate received and considered the report of the Committee on the confirmation of the nominations for appointment as Managing Director and Executive Director of the Nigerian Insurance Corporation.”
President Bola Tinubu had, in May, forwarded the names of the two nominees to the upper chamber for screening and confirmation in line with statutory requirements.
The Senate President, Godswill Akpabio, read the President’s request during plenary, after which it was referred to the appropriate committee for scrutiny.
With Thursday’s approval, Oludare and Kataka are expected to immediately assume their leadership positions at the NDIC—an institution critical to the stability of Nigeria’s banking system.
Their appointments are expected to strengthen stability in Nigeria’s banking and financial sector.
