NDIC calls for stronger collaboration with NIESV to ensure accurate valuation of failed bank assets and protect depositors’ funds.

The Nigeria Deposit Insurance Corporation (NDIC) has emphasised the importance of closer collaboration with the Nigerian Institution of Estate Surveyors and Valuers (NIESV) to ensure accurate valuation of assets from failed banks.

Also read: NDLEA Cracks Lagos Drug Syndicate, Multiple Arrests

NDIC Managing Director and Chief Executive Oludare Sunday described precise asset assessments as central to protecting depositors and safeguarding financial stability.

Speaking during a courtesy visit by NIESV President Dr Victor Adekunle Alonge and his executive team to the NDIC Head Office in Abuja, Sunday highlighted that credible valuation reports are vital during bank liquidation, as proceeds from asset sales fund deposits exceeding insured amounts.

“Accuracy and professionalism in valuation are essential to protecting depositor funds,” he said.

He stressed that NIESV’s technical input and professional integrity support transparency, fairness, and value-for-money in asset disposal and recovery processes.

Sunday urged the institution to maintain the highest ethical standards and guard against insider abuse, noting that NDIC is also reinforcing internal frameworks to improve oversight.

The Corporation is implementing a comprehensive Asset Management Policy covering asset identification, valuation procedures, disposal strategies, and strict accountability measures.

Sunday further called for joint training programmes between NDIC staff and NIESV members to strengthen expertise in emerging valuation methodologies and sustainable asset management practices.

Responding, Dr Alonge reaffirmed NIESV’s commitment to professionalism, accountability, and integrity.

He assured that the institution would continue providing technical support to NDIC to enhance service delivery and bolster public confidence in the banking sector.

Also read: NAPTIP Uncovers Shocking Child Trafficking Syndicate

Both organisations noted that the visit reflects a shared determination to deepen collaboration, elevate professional standards, and improve the management of assets from failed banks, reinforcing stability across Nigeria’s financial system.