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NDIC to host 15 countries in deposit insurance systems workshop

By Onu Okorie

Not less than 15 African countries including Angola, Botswana, Burundi, Ghana, Kenya, Senegal, Somaliland, Sudan, Tanzania, Uganda and Zimbabwe are expected to attend Deposit Insurance organisations workshop that the Nigerian Deposit Insurance Corporation NDIC will host.

A statement signed by theDirector, Communication & Public Affairs Department NDIC Bashir A. Nuhu explained that the
representatives of Deposit Insurance Agencies from Chinese Taipei, Kenya, Indonesia, United States of America as well as the Financial Stability Institute FSI and the IADI Secretariat both in Basel, Switzerland are expected to form part of the resource persons and panellists at the Workshop.

According to Mr. Nuhu “the NDIC is scheduled to host the regional workshop in Abuja, Nigeria bringing together leaders of African Deposit Insurance Agencies to share knowledge and expertise to strengthen the implementation of deposit insurance systems on the African Continent.”

The event which is scheduled to take place between the 4″ and 7″ of October 2022, is a Technical Assistance Workshop TAW under the auspices of the African Regional Committee ARC of the International Association of Deposit Insurers IADI.

The weeklong workshop with the theme “Normality in Turbulent Periods: The Stabilising Role of Deposit Insurance”, will explore issues such as 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.

The workshop is taking place against the backdrop of the 20″ 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, the NDIC is a founding member of IADI, pioneer member of its executive council and founding Chairperson of the Africa Regional Committee ARC.

The 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.

In addition, the NDIC had also served on various IADI Council and Technical Committees such as 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 & Technical Assistance Council Committee TTAC, to mention but a few.

The hosting of the IADI — ARC Technical Assistance Workshop by the NDIC is a recognition of the Corporation’s international standing and significant achievements and expertise in the implementation of the Deposit Insurance System in Africa.

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