NDIC MD/CEO Addresses 2024 Management Workshop

PROTOCOLS:

The Director – General, Bureau of Public Procurement (BPP), Dr. Adebowale Adedokun PhD;

The Executive Director, Operations NDIC;

The Executive Director, Corporate Services NDIC;

Directors of NDIC and BPP

Other Executive Staff of NDIC;

Procurement Officers;

Members of the Press;

Distinguished Guests, Ladies and Gentlemen.

1.0 It gives me immense pleasure to welcome you all to this special retreat tagged “2024 Management Workshop for Senior Management and Executive Staff of the Nigeria Deposit Insurance Corporation (NDIC) in Collaboration with the Bureau of Public Procurement (BPP)”. It is a Specialized Training for Executive staff and selected Procurement Officers. The theme of this year’s retreat is “Developing Innovative Strategies for Effective Procurement and Financial Management”.

2.0 This workshop, organized in collaboration with the BPP as our technical partners, aims at ensuring efficiency, transparency and accountability, to enable the development of effective strategies in procurement processes enterprise-wide. We have identified the BPP as a critical stakeholder in our attempt towards developing effective and efficient procurement capabilities, in realizing the Corporation’s strategic thrust for performance driven culture, excellence and operational resilience, in line with its vision of becoming one of the best deposit insurers in the world.

3.0 To achieve this culture, one of the resolutions reached at the 2023 Executive Procurement Retreat held in Uyo, Akwa Ibom State was continuous training which underscored the critical need for capacity building for all NDIC Officers involved in the value chain of procurement process. This workshop, therefore, aligns perfectly with that resolution, aims at equipping NDIC personnel with requisite knowledge and skills necessary to navigate the evolving landscape of Public Procurement practices, procedures and regulations in Nigeria.

4.0 The BPP had recommended for the continuous training for our Procurement Officers, Budget Officers, Executive staff and Senior Management on a regular basis. The BPP’s guidance for short training programs are testament to the critical role and dynamic nature of procurement activities as highly and statutorily regulated function in public sector in line with global best standards. In today’s rapidly changing business environment, staying abreast of the current regulations, guidelines, best practices, and innovative approaches are paramount for any organization seeking to optimize its procurement and operational functions to be counted amongst the best corporate bodies.

5.0 To reinforce its belief as a compliance and premium standard agency, the Corporation has achieved and sustained rigorous international regulatory and surveillance audit in September 2023 through MSECB Audit & Certification Services to retain the three (3) ISO certifications namely; Information Security Management System ISO/IEC 27001:2022; IT Service Management System ISO/ 20000-1: 2028; and Business Continuity Management System ISO 22301:2019. The certifications confirmed the Corporation’s compliance status with international best practices.

6.0 It is also instructive to note that the Corporation wears two caps in procurement activities. The first, deals with one of the core mandates of the NDIC, in the area of liquidation function to the general banking public and the second as public procurement entity, for its operational activities as a public agency.

7.0 Under the Liquidation function, the NDIC has powers of a liquidator as provided in the NDIC Act, 2023 and such powers of a liquidator under the Companies and Allied Matters Act, 2020. The Corporation must ensure that the selection of qualified service providers in the areas of valuation, disposal, debt recovery, etc in respect of failed deposit taking institution follows competitive bidding process. The Corporation undertakes these activities through the selection of eligible service providers through “Open Competitive Bidding” (OCB) via newspapers advertisements or “Request for Quotations” (RFQ) where the financial threshold is within Management approval limit. These methods of selection ensure healthy competition, transparency, fair pricing, value for money and accountability in line with the principles of public procurement. This mandate is vital and key in building public confidence and the promotion of safety and soundness in the banking sector.

8.0 In the second cap where the operational activities of the Corporation relate to procurement of Goods, Works and Consultancy/Non-Consultancy Services, the Corporation is bounded strictly by the provisions of Public Procurement Act (PPA) 2007 Section 15(1)(2). The dichotomy here lies in the funding of procurement activities and the applicable law as well as the overall objective.

9.0 This workshop will delve into some critical subject areas to address the theme of the retreat. In order to do justice to the areas in scope therefore, professional resource persons have been carefully assembled for that. The theme of this workshop underscores the importance of embracing innovative and dynamic approaches in our procurement processes by exploring new ways of leveraging technology, such as e-procurement platforms to streamline bureaucratic bottlenecks in our procurement operations while enhancing transparency, competition, value for money and transparency at least evaluated responsive costs.

10.0 furthermore, this workshop will provide a veritable insight for exchange of tangible experience from practitioners, knowledge sharing and networking. I therefore, encourage all participants to actively engage in critical discussions, share your insights, and learn from the experts and esteemed facilitators from the BPP resource base.

11.0 Ladies and Gentlemen, permit me to express my sincere gratitude to the Director General, Bureau of Public Procurement, Dr. Adebowale Adedokun, PhD, for his unwavering support and invaluable partnership and of course for facilitating the reality of this workshop in spite of his busy schedules. I also extend my appreciation to the Executive Directors, Director of Departments, other Executive staff and other participants for your commitment to professional development and your dedication to improving the procurement functions within Corporation.

12.0 I wish you all a productive and insightful sessions.

13.0 Thank you and God bless you.

Bello Hassan, OON, FCA, FCIB

Managing Director/Chief Executive

Nigeria Deposit Insurance Corporation