The Managing Director of the Nigeria Deposit Insurance Corporation, Mr Umaru Ibrahim, has restated the commitment of the corporation to actualising a speedy justice delivery system for depositors of failed banks.
Speaking at a meeting organised for some lawyers in Abuja on Monday, Mr Ibrahim said that the vision of the corporation could only be achieved when legal experts contribute their quota to ensuring that the rights of depositors were protected.
The Managing Director of the NDIC described the role of lawyers in dispute resolutions arising from failed banks as critical to the sustenance of its mandate of ensuring prompt payment of depositors fund.
“I believe there have been greater understanding of issues involved and to the extent that we have recorded much more speedy delivery of justice,” he said.
Although, ensuring speedy justice for depositors has not been without some hiccups,the Director in Charge of Legal Services, Belema Taribo, explained areas where the services of lawyers would be required to ensure that they are protected.
“Lawyers go to court to file papers and what some of them don’t know is that there are what we call winding-up rules. they do not apply, because banks are special kind of companies and not like other kinds of companies. We need to let them know that, because if they don’t know and they go to court, they will apply the wrong procedure,” Mr Taribo said.
The legal experts, however, gave their assessment on the activities of the corporation, saying that NDIC has recorded a paradigm shift because of the massive enlightenment, which has made both the bench and the bar realise the unique role of the NDIC in the stabilisation of macro economy in Nigeria.
