Aim To Boost Public Confidence - MD..Welcome Development- Uwaleke By Tony Obiechina, Abuja In its determination to enhance depositors’ protection and public confidence, the Nigerian Insurance Deposit Corporation (NDIC) on Thursday raised the maximum deposit insurance coverage for Deposit Money Banks from N500,000 to N5m. The Managing Director of NDIC, Mr Hassan Bello who
Nigeria’s regulatory agencies include the Bureau of Public Enterprise (BPE), Fiscal Responsibility Commission (FRC), Securities and Exchange Commission (SEC), Nigerian Communications Commission (NCC), Central Bank of Nigeria (CBN), Nigerian Insurance Deposit Corporation (NIDC), Nigerian Electricity Regulatory Commission (NERC), National Agency for Food and Drug Administration and Control (NAFDAC), Standards Organisation of Nigeria (SON) and the Nigerian National Petroleum Corporation (NNPC).
In the report by Daily Trust, the Centre for Analysis of Risk and Regulation noted that the low service delivery might be attributed to failure of informed analysis of a situation; inappropriate supervision; jurisdictional overlap among different bodies; political failure and inadequate resources for a regulator to sufficiently address a problem. All these mentioned can indeed hamper performance, but what are the regulatory agencies doing to move past the bottlenecks to deliver on their mandat