NDIC to assist Ghanaian counterpart in capacity building
NAN-HE-2
NDIC
By Lucy Nwachukwu
Abuja, Aug. 28, 2017 (NAN) The Nigeria Deposit Insurance Corporation (NDIC) says it is organizing a capacity building programme for senior officials of Ghana Deposit Protection Corporation (GDPC).
Mr Hadi Birchi, the NDIC Head of Communication and Public Affairs, said this in Abuja on Monday that the five-day programme was aimed at ensuring financial system stability.
Birchi said that the programme was part of the NDIC’s efforts to assist West Africa member countries to comprehend the relevance of Deposit Insurance System (DIS) in ensuring financial system stability.
He said that three officials of the GDPC: Mr Franklin Belnye, the CEO of GDPC, Mrs Aimee Mwinila-Youri of its Legal Department and Mr Mustapha Sarbeng of GDPC Finance Department would be attending the training.
According to him, the modules designed for the capacity building programme will cover very wide and strategic areas.
“They include the role of DIS in promoting financial stability, establishment of DIS in Nigeria, rationale, governance structure and core mandate and design features of DIS in Nigeria.
“Legal statutes and policy framework for DIS in Nigeria, determination of deposit insurance coverage, DIS funding in Nigeria and risk assessment of insured financial institutions would be treated.
“It will also cover the overview of NDIC public awareness and financial literacy and education initiative, asset management in failed bank resolution and international collaboration.
“Finally, there would be a module for international association of deposit insurers and other DIS around the World,’’ the NDIC official said.
The pioneer Chief Executive Officer of GDPC, Mr Franklin Belnye, lauded the achievements of the NDIC.
Belnye commended NDIC’s readiness to provide capacity building and experience sharing on DIS practice across the African sub-region.
He said that unlike the risk minimiser status enjoyed by NDIC, the GDPC was starting as a pay-box due to constraints.
The GDPC chief 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.
“It is contrary to a mere pay box which is tied permanently to either the central bank or government for the much needed funding requirements,” Belnye said.
The NDIC is a member of the executive committee of International Association of Deposit Insurers (IADI) and has been extending capacity building programmes to member countries in West African sub-region. (NAN)
LCN/COF/TA
Edited by Oluyinka Fadare/Tajudeen Atitebi