NDIC Hosts Ghanaian Officials On DIS Capacity Building

Drawing from deposit protection successes recorded in the nation’s financial system, Nigeria Deposit Insurance Corporation (NDIC) is upbeat broadening its capacity building programme for senior officials to accommodate personnel from Ghana’s Deposit Protection Corporation (GDPC) and other countries in the West African sub-region.

NDIC, as an Executive Committee member of the International Association of Deposit Insurers (IADI), is consistently working on building capacity for ECOWAS member countries on Deposit Insurance System (DIS).

The Corporation’s Head of Communication and Public Affairs, H. S. Birchi said the programme is packaged by NDIC to strengthen measures by ECOWAS member countries at understanding and appreciating the importance of DIS in enhancing financial system stability within their respective domains.

Birchi said three officials attending the five-day training programme from its Ghanaian counterpart are: Chief Executive Officer, GDPC, Franklin Belnye; as well as representatives from the legal and finance departments, Messrs Aimee Mwinila-Youri and Mustapha Sarbeng

According to the NDIC’s statement, the modules designed for the cover very wide and strategic areas such as: ‘Role of DIS in Promoting Financial Stability; Establishment of DIS in Nigeria; Rationale, Governance structure and Core mandate; Design Features of DIS in Nigeria; Legal statutes and Policy Framework for Deposit Insurance System in Nigeria.’

Others include: “Determination of Deposit Insurance Coverage; DIS Funding in Nigeria; Risk Assessment of Insured Financial Institutions; Overview of NDIC’s Public Awareness and Financial Literacy and Education Initiative; Asset Management in Failed Bank Resolution and International Collaboration: International Association of Deposit Insurers and other Deposit Insurance Systems Around the World.”

Speaking on the programme, pioneer Chief Executive Officer of GDPC, Franklin Belnye praised NDIC for its excellent achievements and readiness to provide capacity building and experience sharing on DIS practice across the African sub region.

Belnye said distinct from the risk minimiser status that the NDIC enjoys, the GDPC currently operates as a ‘pay-box’ due to obvious constraints.

The GDPC boss is however confident of an improved status going forward even as he noted that there is an urgent need to amend the GDPC enabling law gaining from the experience of DIS’s institutionalization in Nigeria’s financial system.

Belnye  further stated that, “This is based on the indication of the eye opening learning points on the relevance and independence of a risk minimiser in the financial system than a mere pay box which is tied permanently to either the central bank or government for the much needed funding requirements.”