NDIC to host African deposit insurance leaders on operational resilience

By Anthony Nwachukwu

For a stronger and more efficient implementation of deposit insurance systems on the African Continent, the Nigeria Deposit Insurance Corporation (NDIC) will host a regional workshop in Abuja, where leaders of over 15 African deposit insurance agencies are billed to share knowledge and expertise

The event, slated to hold from today to Friday (October 4th to 7th), is a Technical Assistance Workshop (TAW) under the auspices of the African Regional Committee (ARC) of the International Association of Deposit Insurers (IADI), a statement from the NDIC Director, Communication and Public Affairs Department, Bashir A. Nuhu, explained.

The week-long workshop, with the theme, “Normality in Turbulent Periods: The Stabilising Role of Deposit Insurance”, will explore issues including the role of deposit insurance in early detection and timely intervention in resolving bank failures, as well as crisis management and strengthening operational resilience of deposit insurance agencies.

Deposit insurance organisations from over 15 African countries, including Angola, Botswana, Burundi, Ghana, Kenya, Senegal, Somaliland, Sudan, Tanzania, Uganda and Zimbabwe, are expected to attend.

Representatives of deposit insurance agencies from Chinese Taipei, Kenya, Indonesia, the United States, as well as the Financial Stability Institute (FSI) and the IADI Secretariat – both in Basel, Switzerland, are also expected to be part of the resource persons and panellists at the workshop. 

The workshop is holding against the backdrop of the 20th anniversary of IADI, which was established in May 2002 with a mission to share deposit insurance expertise with the world.

As a deposit insurer and member of the financial safety net in Nigeria, NDIC joined IADI as a founding member in 2002 and was a pioneer member of the IADI Executive Council and chairperson of the IADI-Africa Regional Committee (ARC) respectively. 

It has also served on various IADI council and technical committees, including Audit and Risk Council Committee (ARCC), Core Principles and Research Council Committee (CPRC), the IADI Strategic Planning Working Group (SPWG), the Islamic Deposit Insurance Technical Committee (IDITC), and the Training and Technical Assistance Council Committee (TTAC), among others.

NDIC’s hosting of the IADI-ARC Technical Assistance Workshop is a recognition of its international standing and significant achievements and expertise in the implementation of the deposit insurance system in Africa.

Leave a Reply

Your email address will not be published. Required fields are marked *