Dr. Thompson Oludare Sunday.In a move that underscores his administration’s resolve to strengthen Nigeria’s financial stability architecture, President Bola Ahmed Tinubu has appointed Dr. Thompson Oludare Sunday as the Managing Director and Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC). The Senate confirmed his appointment on 25th July 2025, marking the beginning of a new phase for the nation’s foremost deposit protection institution.
A distinguished financial strategist and regulatory expert, Dr. Sunday brings over three decades of robust experience in banking supervision, financial sector reforms, and policy development. His professional journey began in 1989 at the Central Bank of Nigeria (CBN), where he dedicated 24 uninterrupted years to banking supervision – a feat that underscores his consistency, discipline, and institutional loyalty.
Throughout his career, Dr. Sunday demonstrated uncommon leadership in the formulation of key financial policies that have shaped Nigeria’s banking landscape. He chaired the Bank-wide Committee for the Review and Drafting of the Banks and Other Financial Institutions Act (BOFIA) 2020 and contributed to the development of landmark frameworks, including the Code of Corporate Governance and the regulatory blueprint for Domestic Systemically Important Banks (D-SIBs).
He was also a pivotal member of the CBN/NDIC Technical Committee on Problem Banks, the 2004-2005 Banking Sector Consolidation Committee, and the 2009 Banking Sector Reform team. His influence extended beyond Nigeria’s borders, serving on the Expert Committee for the Harmonisation of Risk-Based Supervision Frameworks within the West African Monetary Zone.
Between February 2023 and January 2024, he represented the CBN as Independent External Examiner at Heritage Bank, participating at both board and executive levels – an assignment that further cemented his reputation for regulatory depth and strategic insight.
Dr. Sunday’s exemplary service earned him several recognitions, including the CBN Board’s Commendation in 2009 for Outstanding Performance and Integrity during the critical Banking Sector Reforms. Earlier in his career, he was named Best Staff of the Banking Supervision Department in 2001.
His academic laurels mirror his professional excellence. A First-Class graduate of Business Administration (Finance) from Ahmadu Bello University, Zaria (1985), he also earned an MBA from the same institution in 1988 and a Doctorate in Management from St. Clements University in 2009. His brilliance was recognised early with the Federal Government Merit Award for Academic Excellence and the prize for Best Graduating Student in his department.
A member of the Nigerian Institute of Management (NIM) and a Doctoral Fellow of the Institute of Professional Financial Managers, Dr. Sunday is widely regarded as an advocate of sound corporate governance, financial prudence, and institutional capacity building.
With his appointment, industry observers anticipate a renewed emphasis on depositor protection, financial inclusion, and risk-based supervision within the NDIC. Analysts note that his extensive background in regulatory policy positions him to steer the corporation toward global best practices while strengthening public trust in Nigeria’s banking system.
