President Bola Tinubu has written to the Nigerian Senate seeking confirmation of Thompson Oludare Sunday as the new Managing Director of the Nigeria Deposit Insurance Corporation (NDIC).
Alongside Oludare, Tinubu also nominated Kabir Sabo Kataka for the role of Executive Director at the same institution, signaling a reshuffle in the country’s financial sector oversight.
The Senate President, Godswill Akpabio, read the President’s letter during plenary and directed it to the Senate Committee on Banking, Insurance and Other Financial Institutions for swift legislative action.
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In a strategic move that signals a shake-up in Nigeria’s financial regulatory framework, President Bola Ahmed Tinubu has demanded the Senate’s approval for Thompson Oludare Sunday to take the reins as Managing Director of the Nigeria Deposit Insurance Corporation (NDIC).
The nomination was formally transmitted to the upper legislative chamber on Wednesday, May 28, 2025. Tinubu also nominated Kabir Sabo Kataka as Executive Director of the same institution.
The Senate has referred the request to the relevant committee for prompt legislative scrutiny.
President Bola Tinubu, in a letter addressed to the Senate, called for the urgent confirmation of Thompson Oludare Sunday as the new MD of the NDIC.
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He further sought legislative backing for the appointment of Kabir Sabo Kataka as the corporation’s Executive Director.
The letter was read during Wednesday’s plenary session by Senate President Godswill Akpabio.
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According to Akpabio: “In accordance with the provisions of Section 5 of the Nigeria Deposit Insurance Corporation Act, the President has beenthe names of Thompson Oludare Sunday and Kabir Sabo Kataka for the Senate’s consideration and confirmation.”
The nominations have been forwarded to the Senate Committee on Banking, Insurance and Other Financial Institutions.
Akpabio instructed the committee to “carry out necessary screening and report back to the chamber as soon as practicable.” No deadline was specified.
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