NDIC to banks: No to casualization


The Nigeria Deposit Insurance Corporation (NDIC) has sounded a note of warning to banks, saying it is no longer at ease with the use of contract staff deployed in most deposit money banks as well as the practice of compelling female staff as vehicles for money deposits.

Giving this warning was the Managing Director and Chief Executive of the Corporation, Alhaji Umaru Ibrahim. He spoke in Abuja during a courtesy call on him by the President and other Council Members of the Chartered Institute of Bankers of Nigeria (CIBN).

The NDIC boss said “bank examination reports had indicated that the high incidences of fraud and forgeries in the banking system had been linked to outsourced or contract staff.”

Expatiating, he said “in as much as regulators appreciated the necessity for banks to cut costs, it was incumbent on all stakeholders to fashion out capacity building and other strategies to motivate all employees to contribute positively rather than engaging in criminal acts that impact adversely on the entire banking system. Of concern to him, he stressed, is the plight of female employees in the banking industry.

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