By our reporter| The International Association of Deposit Insurers (IADI) have commended the Nigeria Deposit Insurance Corporation (NDIC) for proposing the establishment of the African Center for Deposit Insurance (ACDI) to be domiciled in the NDIC Academy, Abuja to provide training and enhance the capacity for the staff of member countries on the continent.
In a statement on Wednesday, Bashir Nuhu, Director, communication and public affairs of NDIC, said the commendation was given at the virtual Annual General Meeting of the IADI Africa Regional Committee (ARC), chaired by the ARC Chairperson and NDIC MD/CE Umaru Ibrahim with representatives of Nine (9) member countries of ARC from Angola, Ghana, Kenya, Morocco, Nigeria, Rwanda, Tunisia, Uganda and Zimbabwe, as well as the IADI Secretary General, Mr. David Walker and Mr. Keehyun Park of the IADI Secretariat Basel, Switzerland.
According to the statement, while praising the NDIC for its efforts to spearhead the establishment of the Centre, members agreed that due to the current Covid-19 pandemic restrictions, the Centre should commence with online programmes in 2021.
Members also commended the proposed ARC Publication which is designed to document the experiences and challenges of Deposit Insurance System (DIS) in Africa.
They agreed for the setting up of a Committee made up of Nigeria, Zimbabwe, Kenya and Morocco to coordinate the collation of information from member countries to be used in the compilation of the publication.
During the meeting, ARC member countries further provided update on their activities and issues discussed centred on the need for continuous capacity building; enhanced public awareness; prompt depositor Reimbursement/pay-out; and stepping-up of supervision of insured institutions.
The MD/CE NDIC, Umaru Ibrahim who was chairing his last ARC meeting, in his remark, thanked the IADI Secretary General, Mr. David Walker for his continuous support to the ARC and expressed his sincere gratitude to members for their support during his 3 years tenure as the ARC Chairperson.
He also urged for continuous collaboration to drive the growth of deposit insurance in Africa.
Mr. Vusi Vuma, MD/CEO of Deposit Protection Fund of Zimbabwe expressed his appreciation and gratitude to Mr. Umaru Ibrahim on behalf of all the regional members for the stewardship, guidance and support that the NDIC always extends to all the regional members.
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