Senate committed to healthy financial institutions – Lawan

…Berates NAIC for not meeting farmers demand

Tunde Opalana, Abuja

President of the Senate, Senator Ahmad Lawan, on Wednesday, said the Senate commitment to healthy banking and other financial institutions remain sacrosanct.

Lawan gave the assurance while addressing management team of the National Deposit Insurance Corporation (NDIC), led by its Managing Director, Umar Ibrahim, in his office.

He said he is optimistic that members of the 9th Senate are desirous of a stable economy which he said could only be achieved through collaboration by all players in the financial services.

He commended the efforts of the NDIC over the years, for protecting customers’ interest and their various engagement such as workshops, public hearing and monitoring, saying the National Assembly will not relent in its oversight functions to ensure the common man is positively impacted in the scheme of things.

He said: “NDIC is a very important institution of government. You have the mandate to make our banking system work. I am delighted you have done that over the years.

“We in the Senate will continue to work closely together with you. Our relevant Committees will partner with you to ensure that citizens are not shortchanged.

The President of the Senate assured his guests that the NDIC Act pending in the Senate will receive urgent attention as soon as the Senate resumes, adding, “The Bill on re-enactment of NDIC will receive adequate attention.

“We are going to work on the amendment. All the issues confronting the financial services and regulations will not be wheeled down for the interest of Nigerians. We have the responsibility to make sure that this economy reclaims its lost glory.

“We cannot have a stable economy and even country without a healthy banking system, so we will continue in our duties to ensure that our banking system is reliable.”

Senator Lawan berated the Nigerian Agricultural Insurance Corporation (NAIC) for not meeting the demands of those he described as mainly disadvantaged farmers.

“We must encourage and empower these farmers. Agricultural produce add huge impacts into the economy.

“Our banks hardly make available facilities for these less privileged farmers and while they are available, the interest rate is high on the roof.

“This is undermining the efforts to collaborate the diversification agenda of Mr. President,” Senator Lawan stated.

In his remarks, the Managing Director, NDIC, Umar Ibrahim, congratulated the Lawan and the newly sworn-in senators of the Federal Republic of Nigeria, reiterating that the NDIC is prepared to work with the National Assembly for the safety of the banking and financial sectors in Nigeria.

He said the Corporation has been able to achieve tremendously in the area of support to keep alive ailing Banks and to tackle cyber crimes.

“We will ensure we gain more mileage in this regards”, Umar assured.

The Managing Director noted that about 60 percent of Nigerians still find it difficult to access banking facilities, adding that the Corporation is working to ease this trend and make available avenue to contain the situation.

Earlier in the day, the Old Boys Association of the Governments College, Gashua (GASOSA), Yobe State paid a courtesy visit to the President of the Senate in his office with the call on the newly inaugurated members of the 9th Assembly to remain focused to the course of nation building.

The National President of the Association, Professor Abdulkadir Shetimma, who led other members of the Association, said the visit reminded him of memory past.

He prayed to God to continue to grant the leadership of the Senate wisdom and grace to carry Nigerians to the next level of development.

His words: “We know you are capable and we know your seriousness, your steadfastness and tenacity of pursuing goals and morals standing on issues of nation building. We will journey with you in these quests.”

Shettima said members of the Old Boys Association cut across national interest, adding that the Association has gotten an ambassador to offer to the nation services for the good of the citizenry.

He commended the Senators for their support for Senator Lawan’s candidature during the elections of the Presiding officers of the 9th Senate, saying Nigerians will soon testify on the quality representation to come.

Reacting, the President of the Senate said the position is based on trust, stating, “This position I am holding today is trust. I see elections into these offices as trust to Nigerians.

I will always do everything that will be beneficial to Nigerians. We in the 9th Senate will give back to Nigerians, dividend of their investments.

“Responsibilities have come to us to be committed, humble and respect to serve the nation better. We will stand for every Nigerian and we will be guided”.