FEC approves N5.72bn for NDIC projects

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Zainab Ahmed

The Federal Executive Council(FEC) has approved N5.72 billion for the construction of Nigeria Deposit Insurance Corporation’s (NDIC)  zonal office in Bauchi and for 12 consultancy services for development of NDIC’s offices.

Minister of Finance Zainab Ahmed disclosed this while briefing State House correspondents after FEC meeting presided over by Vice President Yemi Osinbajo on Wednesday at the Presidential Villa, Abuja.

She said that the contract sum included Value Added Tax (VAT).

“Today, the Ministry of Finance, Budget and National Planning, presented two papers to council.

“The first paper that we presented to council and council approved was for the construction of the Nigeria Deposit Insurance Corporation (NDIC) zonal office in Bauchi.

“The contract is in the sum of N3.239 billion including VAT; this project is to be completed in 96 weeks.

“The NDIC has been operating from a rented office accommodation; the office accommodation has since become unconducive for a good working environment.
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