Regulatory Policies Making Nigerian Banks Resilient, Says Bello Hassan

Bello Hassan, the Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation, has said that regulatory policies have continued to make Nigerian banks resilient by being safe, stable and sound in spite of the COVID-19 pandemic.

On Thursday, Hassan spoke at the 2022 NDIC retreat for members of the House Of Representatives Committee on Insurance and Actuarial Matters with the theme, ‘Deposit insurance in Nigeria: Restrategising for tomorrow’ in Lagos

“A resilient financial system has the capacity to respond to a range of shocks.

"The macroeconomic shock and stress brought about by COVID-19 is unprecedented.

"It has been recognised as the ultimate test of resilience so far to financial systems”

“As evidenced by the financial soundness indicators, Nigerian banks have remained resilient, by being safe, stable and sound in spite of the challenges posed by the COVID-19 pandemic.

"This success was due largely to the proactive policies and support of the regulatory authorities.”

He said the NDIC contribution to financial stability and resilience could be examined within the context of its activities in the discharge of its mandate of deposit guarantee, bank supervision, distress resolution, and bank liquidation.

Bello also added that the NDIC played a significant role in ensuring adherence to corporate governance principles in the banks.