The Senate has officially confirmed Thompson Oludare Sunday as the new Managing Director of the Nigeria Deposit Insurance Corporation (NDIC) and Kabir Sabo Katata as an Executive Director of the agency.
Their confirmation followed the consideration of a report by the Senate Committee on Banking, Insurance, and Other Financial Institutions during Thursday’s plenary in Abuja.
Presenting the report, the committee chairman, Senator Tokunbo Abiru (APC, Lagos East), said both nominees had been thoroughly screened and found qualified to occupy the roles.
“The committee finds the nominees suitable for the roles. There were no petitions against them, and security agencies cleared them. Their appointments are in line with the provisions of the NDIC Act, 2023,” Abiru stated.
He further emphasized that the nominees possess the required expertise and experience to help strengthen the country’s financial system.
“After a robust engagement with the nominees and being satisfied with their experience, performance, and academic qualifications, the committee hereby recommends that the Senate confirms their appointments,” he added.
Presiding over the plenary, Deputy Senate President Barau Jibrin commended the committee for its diligent work.
“The report is well-structured and comprehensive, thanks to the resilience and hard work of the chairman and members of the committee,” Jibrin said.
President Bola Ahmed Tinubu had forwarded the nominations to the Red Chamber in May 2025. They were read on the floor by Senate President Godswill Akpabio and referred to the committee for screening.
With the Senate’s confirmation, Sunday and Katata are now set to assume their leadership positions at the NDIC, where they will be tasked with overseeing deposit insurance and ensuring stability in Nigeria’s banking sector.
