NDIC Offers Technical Skills To Uganda Deposit Protection Fund

Nigeria Deposit Insurance Corporation (NDIC) MD/CE, Umaru Ibrahim (front row, 4th left) in a handshake with Deposit Protection Fund of Uganda (DPFU), Head, Communications, Hashim Kirungi (front row, 1st right); NDIC Executive Director Operations, Prince Aghatise Erediauwa (front row, 2nd left); NDIC Executive Director Corporate Services, Hon. Mrs. Omolola Abiola-Edewor (front row, 3rd left); NDIC Director, Insurance and Surveillance Department, Mohammed Y. Umar (back row, 3rd left) and DPFU Assistant Board Secretary, Felix Nsiimoomwe (back row, 4th left), during the five day study visit of DPFU staff to the Corporation to understudy the Deposit Insurance System (DIS).

By CLEMENT NWOJI, Abuja

The Nigeria Deposit Insurance Corporation (NDIC) is assisting the Uganda Deposit Protection Fund (DPFU) with technical capacity towards implementing Deposit Insurance System (DIS) in the East African country.

Already, a five-member delegation from DPFU  recently arrived Nigeria to understudy the activities of the Corporation  to generate technical knowledge of implementing deposit insurance.

The NDIC has been the destination of choice for several sister agencies and Central Banks from across the African continent eager to understudy the activities of the Corporation and learn from its rich experience in Deposit Insurance – a subject on which it is recognized as a leader in Africa.

A statement by the NDIC Head of Communications and Public Affairs, Mohammed Kudu Ibrahim noted that the Ugandan team was only the latest delegation from several Africa countries to visit the Corporation for capacity building.

He recalled that the NDIC previously hosted delegations from the Reserve Bank of Malawi, Reserve Bank of Lesotho, Deposit Protection Fund Board of Kenya, Deposit Insurance Board of Tanzania, Commission Bancaire del’Afrique Centrale (COBAC) of Cameroun, Delegates from Banque Centrale Des Etats De L’ Afrique De L’ Ouest (BCEAO) in Senegal all of whom, the NDIC assisted to build their capacity for the implementation of the Deposit Insurance System (DIS) in their various jurisdictions.

Others include teams from the Central Bank of The Gambia, Bank of Tanzania, the Deposit Protection Corporation of Zimbabwe, and the Ghana Deposit Protection Corporation (GDPC).

In September, 2018, the NDIC is set to also host the African Regional Conference of the International Association of Deposit Insurers (IADI).