The Nigeria Deposit Insurance Corporation in collaboration with the Bureau for Public Procurement is holding a three-day retreat in Kano to enhance its procurement and financial management processes.
The retreat, themed “Developing Innovative Strategies for Effective Procurement and Financial Management,” is taking place at the Bristol Palace Hotel and is aimed at ensuring efficiency, transparency, and accountability in the corporation’s operations.
Delivering the keynote address, the Managing Director/CEO of NDIC, Mr. Bello Hassan, underscored the importance of the retreat in achieving the corporation’s strategic goals.
“We have identified the BPP as a critical stakeholder in our efforts to develop effective and efficient procurement capabilities. This is vital for realizing the corporation’s strategic thrust of fostering a performance-driven culture, operational excellence, and resilience, in line with our vision to become one of the best deposit insurers in the world,”Hassan stated.
He further highlighted that the workshop aligns with resolutions from the 2023 Executive Procurement Retreat held in Uyo, Akwa Ibom State, which emphasized the need for continuous training to build capacity among officers involved in the procurement value chain.
“This workshop equips NDIC personnel with the requisite knowledge and skills necessary to navigate the evolving landscape of public procurement practices, procedures, and regulations in Nigeria,” Hassan added.
In his remarks, the Director-General of BPP, Dr. Adebowale Adedokun, highlighted the significance of the collaboration with NDIC, describing it as a platform to strengthen procurement systems and enhance the capacity of procurement officers to deliver value.
Adedokun emphasized the role of the Public Procurement Act 2007 in improving budget performance and driving economic growth.
“This retreat serves as a launchpad for enhanced budget performance, fostering creativity, innovation, and technological advancements that are adaptable both locally and globally,”* Adedokun said.
He reiterated BPP’s commitment to President Bola Tinubu’s 8-Point Renewed Hope Agenda, noting that effective public procurement practices are essential for achieving governance objectives.
“Since 2007, BPP has conducted specialized training in public procurement and collaborated with professional bodies to improve procurement processes. Today, Nigeria boasts a pool of over 7,000 trained procurement professionals who can support agencies in implementing procurement activities,” he said.
Adedokun also revealed that the bureau is working closely with anti-corruption agencies to address procurement-related infractions stemming from non-compliance with the PPA 2007 and other government regulations.
He urged NDIC to maintain diligence, accountability, and integrity in public procurement processes, stating, “It is expected that this retreat will identify factors hindering effective procurement performance and budget implementation, while providing tailored solutions.”
The retreat underscores NDIC’s commitment to strengthening its procurement processes and fostering operational excellence through partnerships and capacity building.