TSA: Retrenchment of bank workers unfounded, says NDIC MD

NDIC boss Ibrahim

From Isaac Anumihe, Abuja

MANAGING Director, Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has described as unfounded, the rumoured retrenchment of bank workers with the implementation of Treasury Single Accounts (TSA).

Fielding questions on TSA at the commissioning of a Research Building Complex donated by NDIC to the National Institute for Policy and Strategic Studies (NIPSS), Kuru, Jos, Ibrahim, said the full implementation of the TSA was only a signal that the era of arm-chair banking in Nigeria was over, adding that the policy had actually presented banks with an opportunity to diversify their sources of deposit mobilisation.

Ibrahim also emphasised that the implementation of the policy should not be strange to the banks because, they (the banks) had been warned about three years back to take steps to reduce their over dependence on government deposits.

He however said the rumoured mass retrenchment in the banking system due to the TSA policy was unfounded, pointing out that organisational renewal was a continuous exercise whereby banks not only rationalise their branches and entire operations to enhance efficiency but also undertake recruitment to renew their human capital.

Meanwhile, the NDIC boss said the corporation took the bold step to extend its gesture to the institute as part of its corporate social responsibility (CSR) initiative, which started about 10 years ago. He also reiterated the corporation’s readiness to continue to support educational institutions to advance academic standards nationwide.

Speaking while commissioning the edifice, the Vice President, represented by his Director of Administration, Alhaji Ibrahim Yabani, commended NDIC for identifying with the infrastructural needs of the institute through the donation of the office complex.

Osinbajo said the Federal Government was appreciative of the NDIC gesture, urging organisations in both the public and private sectors to emulate the corporation. He expressed optimism that the building complex would not only provide conducive environment for research but also charged the institute to apply itself towards formulating policies that would accelerate socio-economic development in the country.

The Director General of the institute, Prof. Tijani Mohammed Bande, expressed appreciation for NDIC’s response to the challenge of office accommodation in the institute.

Source : SunOnline

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