Written by Sarah NEGEDU

NDIC shows support for Uganda deposit protection fund

The Nigeria Deposit Insurance Corporation, NDIC, has said it is assisting the Uganda Deposit Protection Fund, DPFU, to develop capacity to implement the Deposit Insurance System, DIS, in the East African country.

A statement from the Head, Communications and Public Affairs, of the corporation, Mr. Mohammed Ibrahim, said the 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 recognized as a leader in Africa.

The corporation added that 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 of Cameroun, delegates from Banque Centrale Des Etats De L’ Afrique De L’ Ouest in Senegal, all of which the NDIC assisted to build capacity for the implementation of the DIS in their various jurisdictions,” the statement said.

The corporation also trained teams from the Central Bank of The Gambia, Bank of Tanzania, the Deposit Protection Corporation of Zimbabwe, and the Ghana Deposit Protection Corporation. In September, 2018, the NDIC will also host the African Regional Conference of the International Association of Deposit Insurers, IADI.

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