The Senate on Thursday confirmed Oludare Sunday and Kabir Kataka as the new Managing Director and Executive Director of the Nigeria Deposit Insurance Corporation (NDIC).

The confirmation followed the presentation of a report by the Senate Committee on Banking, Insurance, and Other Financial Institutions, chaired by Senator Adetokunbo Abiru (APC, Lagos East), who urged lawmakers to approve the nominations.

President Bola Tinubu had forwarded their names to the Senate in May for screening and confirmation in accordance with statutory provisions.

With the Senate’s approval, both appointees are expected to immediately assume their roles at the NDIC, a key institution for ensuring stability in Nigeria’s financial system.