A Review of the Nigerian Energy Industry

Emerging Developments: NDIC urges better awareness for Finance Ministry officials

Ngozi-Okonjo-Iweala 1
Ngozi Okonjo-Iweala, Finance Minister

Managing Director of the corporation, Alhaji Umaru Ibrahim, made the call in Abuja, urging stronger collaboration between the Ministry of Finance and all agencies under its supervision for a better understanding of their operations.

Ibrahim, who spoke at a two-day seminar for management staff of the ministry, said it was necessary for the ministry to understand the operations of the various regulatory bodies it supervised.

“This will enable them to effectively discharge their over-sight responsibilities,” he said, noting that the expediency in the economy had underscored the need for continuous harmony between the formulation of fiscal policies and the monetary policies of the Central Bank of Nigeria, CBN.

The policies, Ibrahim said, were geared toward sustainable economic growth and development and reiterated the need to provide the ministry’s staff with broad understanding of the mechanisms and dynamics of the financial system.

He stated that NDIC had carefully drawn experienced resource persons from the banking, finance, capital market, deposit insurance, pension and the insurance sectors for the seminar as he urged other financial regulatory institutions under the ministry’s supervision to assist in similar capacity building initiatives in the interest of nation’s economy.

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