Money

NDIC Assists Uganda Deposit Protection Fund

NDIC Managing Director Umaru Ibrahim in a handshake with Deposit Protection Fund of Uganda Head Communications Hashim Kirungi during the five day study visit of DPFU staff in Abuja.

 

BY NKECHI NAECHE— Nigeria  Deposit Insurance Corporation (NDIC) said is assisting the Uganda Deposit Protection Fund (DPFU) to develop the capacity to implement the Deposit Insurance System (DIS) in the East African country.

This is contained in a statement released by its Head, Communication and Public Affairs, Mohammed Kudu Ibrahim said NDIC recently hosted a five-member delegation from DPFU who arrived the country to understudy the activities of the Corporation.

“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 recognised as a leader in Africa.”

The Ugandan team was the latest delegation from several Africa countries to visit the Corporation for capacity building.

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 the 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 will also host the African Regional Conference of the International Association of Deposit Insurers (IADI).

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