The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation, Mr. Thompson Sunday, has urged closer collaboration with the Chartered Institute of Bankers of Nigeria to tackle emerging risks in the banking sector.

The call was made during a courtesy visit by CIBN President and Council Chairman, Prof. Pius Olanrewaju, and his executive team to the NDIC Head Office in Abuja, the Corporation said in a Thursday statement.

Both institutions agreed to deepen cooperation in key areas, including digital banking, cybersecurity, fraud prevention, and risk management.

Mr. Sunday emphasized that regulators and industry players must collaborate to create a more resilient financial ecosystem that can keep pace with technological innovation.

The NDIC Chief Executive also commended the CIBN for its role in advancing professional development within the banking sector and encouraged the Institute to work more closely with regulators in designing innovative strategies for resolving banking failures.

In response, Prof. Pius Olanrewaju congratulated Mr. Sunday on his appointment and lauded the NDIC’s recent achievements, including the upward revision of deposit insurance coverage, faster depositor reimbursements through technology, and the payment of liquidation dividends within a year of Heritage Bank’s closure.

He noted that these initiatives had significantly bolstered depositor and investor confidence in the banking system.

Prof. Olanrewaju also praised the NDIC’s active participation on the CIBN Governing Council, noting that its involvement had strengthened oversight, guided policy direction, and promoted ethical leadership.