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Ghana benefits on Nigeria’s deposit Insurance

Head Communications and Public Affairs, Mr Hadi Birch, on Monday, confirmed the five-day capacity building for leaders of Ghana Deposit Protection Corporation GDPC, by the Nigeria Deposit Insurance Corporation NDIC.

In a statement, he said it’s part of the NDIC’s efforts to assist member countries in the West African sub region to comprehend the relevance of Deposit Insurance System, according to Agency reports.

It named three officials of the GDPC who are attending the training programme to include Mr. Franklin Belnye CEO, Ghana Deposit Protection Corporation, Mrs. Aimee Mwinila-Youri from Legal Department and Mr. Mustapha Sarbeng  of Finance Department.

According to the statement, it will help to ensure  financial system stability.

It said the modules that are designed for the five-day capacity building programme cover very wide and strategic areas.

The modules it said are “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.

Others include Asset Management in Failed Bank Resolution and International Collaboration, International Association of Deposit Insurers and other Deposit Insurance Systems around the World.

Commenting in the statement, 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.

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

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