I must expose the corrupt practices in NDIC — Dr AbdulHakeem AbdulLateef

Dr. AbdulHakeem AbdulLateef, the Chairman of the National Deposit Insurance Corporation (NDIC), has pledged to expose the huge corruption within the agency.

In a video posted on his Facebook page on Monday June 12, 2023, Dr. AbdulLatee revealed the existence of a cabal that is obstructing the functioning of the NDIC.

He expressed his determination to cleanse the system and expose those individuals who are undermining the efforts of the federal government.

He made a solemn pledge, stating, “Even if today is my last day on earth, I will speak the truth.”

AbdulLateef emphasized that the responsibility of eradicating endemic corruption should not rest solely on the shoulders of Asiwaju, but every head of a government agency in Nigeria must stand up and bring to light the corruption within their respective establishments.

“The NDIC, I must confess, is not exempt from corruption,” he stated candidly.

He disclosed that the architects of corruption in Nigeria are aggressively retaliating by fabricating fraudulent documents, which they coerced the former president to sign.

AbdulLateef acknowledged that when one is genuinely committed to combating corruption and seeking true change, there will be both supporters and skeptics who will attempt to frustrate these efforts.

Speaking about the inception of the NDIC, he explained that the agency was established as an independent entity to safeguard depositors’ money in banks and financial institutions.

“Its primary objective is to protect Nigerians from the misconduct of bank directors, ensuring that their deposits remain secure,” he said.

The NDIC boss stated further that the agency conducts regular inspections of banks to ensure that depositors’ funds are not misused.

“It also assesses the creditworthiness of borrowers and oversee the banks’ operations, aiming to bring satisfaction to depositors and prevent bank collapses,” the NDIC boss said.

He added that the NDIC intervenes and resolves issues raised by depositors concerning bank failures.

Unfortunately, the cabal has seized control of the NDIC. They manipulated the former president into signing a doctored document that significantly deviates from the original document approved by the National Assembly, the NDIC boss revealed.

The recalled that upon his appointment, he told all Nigerians that he did not seek congratulations but rather came to serve and eradicate all forms of corruption within the agency.

He expressed confidence in the integrity of the National Assembly, highlighting that the original votes and proceedings of the Senate had been tampered with.

“The cabal’s objective was to grant the Central Bank of Nigeria (CBN) exclusive authority in appointing directors, eliminating the role of the NDIC,” he confessed.

According to the genuine proceedings, only the president possessed the power to appoint competent directors without the CBN governor’s recommendation. Each of the six geopolitical zones would be represented.

“Regrettably, the cabal fraudulently replaced the document to suit their agenda.”

Dr. AbdulLatee further alleged that the cabal had also stunted the career growth of all 1,600 workers in the NDIC.

“They restricted their progression and prohibited them from becoming directors by asserting that only the CBN could make appointments,” he maintained.

Consequently, discontent and demoralization have spread among the workers, as they believe they have no prospects for advancement.

He added that the depositors are suffering due to the banks’ inability to provide satisfactory services.

AbdulLateef revealed that he had received numerous petitions from frustrated Nigerians who were owed by the NDIC.

He revealed that the independence of the NDIC has been eroded, and it now operates with the concurrent approval of the CBN.

AbdulLateef stressed the need for collective action, stating that Asiwaju alone could not bring about the necessary changes. He called upon the heads of government agencies and parastatals to demonstrate their commitment to accountability and transparency.

He expressed the importance of agencies reporting individuals while emphasizing that he is indifferent to being removed, as long as he is not prevented from worshiping Allah.

“The president ought to investigate the recently enacted law that deprives depositors, who represents the Ministry of Finance, of their rights.

“It is essential to ascertain the reasons behind the disparities between the passed legislation and the legislation that received assent.

“The newly enacted law is invalid and null. The president signed a bill that significantly differs from the version approved by the assembly.

“It is imperative for the new administration to return the legislation to the national assembly for further deliberation,” he concluded.