September 27, 2023/NDIC
The MSECB, a leading international provider of Audit and Certification Services has granted the Nigeria Deposit Insurance Corporation (NDIC) three ISO certifications namely: Information Security Management System ISO/IEC 27001:2013 (on how organizations manage and protect their information assets so that they remain safe and secure, using this robust framework); IT Service Management System ISO/IEC 20000-1:2011 (on how to ensure effective and resilient services in today’s changing service delivery environment); and Business Continuity Management System, ISO 22301(on the requirements for a management system to protect against, reduce the likelihood of, and ensure businesses recover from disruptive incidents).
In a statement signed by Mr Bashir Nuhu, the Director of Communications and Public Affairs, the certifications followed a rigorous and independent audit exercise confirming that the NDIC complies with the requirements for the three standards.
The ISO is an independent, non-governmental international organization that brings together experts worldwide to develop voluntary, consensus-based, market-relevant International Standards that support innovation and solve global challenges. The certification is a three-year, multi-layered process that begins with an initial certification in the first year, followed by two (2) surveillance audits over the course of two (2) years.
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In line with its vision to be one of the best deposit insurers in the world, the Corporation will continue to offer excellent services consistent with international standards and best practices to ensure that the current achievement is duly sustained.
The Nigeria Deposit Insurance Corporation, NDIC, is an independent agency of the Federal Government of Nigeria. The purpose of the deposit insurance system is to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution can no longer repay their deposits, thereby helping to maintain financial system stability.