NDIC to host regional insurance leaders strengthen operational resilience

Regional deposit insurance leaders are billed to gather in Abuja to brainstorm on strengthen the implementation of deposit insurance systems on the African continent.

In a statement by Director, Communication & Public Affairs Department of NDIC, Bashir A. Nuhu, on Sunday, the 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 event which is scheduled to take place between the 4th and 7th 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 hosting of the IADI – ARC Technical Assistance workshop by the Corporation comes on the backdrop of its international standing and significant achievements and expertise in the implementation of the deposit insurance system in Africa will have deposit insurers from 15 African countries including Angola, Botswana, Burundi, Ghana, Kenya, Senegal, Somaliland, Sudan, Tanzania, Uganda and Zimbabwe.

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.

The workshop is taking place 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, 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.

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