The Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Umaru Ibrahim, has advocated for alternative funding for the activities of the Financial System Strategy 2020 (FSS 2020) away from dependence on the Central Bank of Nigeria (CBN).
Receiving the management team of FSS 2020 in Abuja yesterday, Ibrahim urged all implementing agencies of the FSS 2020 to assist the CBN in funding the secretariat of the project.
The NDIC boss committed to help fund the project, advising the management team to draw up a budget and make it available for all the five participating institutions involved in the implementation for inclusion in their respective budgets.
The FSS 2020 is a project designed to place Nigeria among 20 most developed economies by the year 2020. The director of the project, Mohammed Sulaiman, said fund for the project has been a major challenge.