In its effort to have a firm hold on the banking industry, the Nigeria Deposit Insurance Corporation (NDIC) has released a fresh set of bank examiners to monitor the sector.

The exercise also seen as an attempt to protect depositors, will ensure stability of the banking sector, ensure effective and efficient payment system and promote competition and innovation in the nation’s banking sector.

About 160 examiners were inducted in the second and possible final phases of the recruitment exercise of the NDIC after September 2010 induction of 127 examiners into its workforce.

This is the second time the NDIC will be recruiting large numbers of bank examiners since 1994 when about 300 examiners were inducted.

Speaking at the induction, the corporation’s Board Chairman, Dr Hassan Adamu, commended the examiners for scaling through the “rigorous recruitment process.”

According to Dr Adamu, the recruitment of the new bank examiners “into the NDIC is to enable the corporation to face current and emerging challenges in the financial and banking industry both locally and globally.”

“Your performance will be continually monitored and any transgression will attract commensurate corrective measure” he warned.

The new employees will face another round of examinations to ensure their suitability to work in the corporation. The Managing Director of NDIC, Mr Umaru Ibrahim, said that the examination was not to victimize anybody but to assess the assimilation of the materials they have got.

However, those who don’t make good grades will be given another opportunity to brush up.

“I understand today that they are going to have another opportunity to assess the assimilation of the materials till they went through the induction. Those that don’t make it will have another chance to brush up. But they are all staff of the corporation as at now. The next step logically will be to deploy them to various departments” he said.

While foreclosing any other recruitment in the near future, the Head of Human Resources, Dr Nurudeen Auwal, said that 56 per cent of the recruits are Economics, Business Administration and Accountancy graduates while six per cent are lawyers and four per cent are Computer Science graduates. He also said that seventy per cent of the employees are below 35 years