The Nigeria Deposit Insurance Corporation (NDIC) on Monday said it is extending a five-day capacity building programme for senior officials to Ghana’s Deposit Protection Corporation (GDPC).

A statement issued by H. S. Birchi, NDIC’s Head of Communication and Public Affairs, stated that the programme was part of the NDIC’s efforts to assist member countries in the West African sub-region to comprehend the relevance of Deposit Insurance System (DIS) in ensuring financial system stability.

Three officials of the GDPC attending the training programme are: Franklin Belnye – CEO, Ghana Deposit Protection Corporation; Aimee Mwinila-Youri – Legal Department and Mustapha Sarbeng – Finance Department

Part of NDIC’s statement read: "The modules that are designed for the five-day capacity building programme cover very wide and strategic areas. 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; 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."

In his remarks about the programme, the pioneer Chief Executive Officer of GDPC, Franklin Belnye applauded the achievements of the NDIC and its readiness to provide capacity building and experience sharing on DIS practice across the African sub region.

Belnye conceded that unlike the risk minimiser status enjoyed by NDIC, the GDPC was starting as a pay-box due to constraints. He however expressed optimism that there would be urgent need to amend the GDPC enabling law as soon as possible to follow the paths of DIS practice in Nigeria.

“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” he added.

As a member of the Executive Committee of International Association of Deposit Insurers (IADI), the NDIC has been extending capacity building programmes to member countries in the West African sub region. (TV360 Nigeria)

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