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NDIC Academy will boost deposit insurance in Africa

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By Babajide Komolafe

THE Nigeria Deposit Insurance Corporation (NDIC) Academy   will lead the African Sub-Region in enhancing capacity building and bridging skills gaps in the banking industry in general and the Deposit Insurance Scheme (DIS) in particular.

Managing Director/Chief Executive, NDIC, Alhaji  Umaru Ibrahim made this remark during the accreditation ceremony of the NDIC Academy as a training service provider for its staff and the banking industry by the Council of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos.

A Cross section of students at the book reading event

Ibrahim said with the NDIC Academy’s new status, it is positioned to fulfil the Corporation’s goal of serving as a center of academic excellence for capacity building on the Deposit Insurance Scheme (DIS) for countries in the Sub-Saharan Africa. He added that the Corporation prides itself on establishing high standards of professionalism and competency among its staff through the Corporation’s NDIC Academy and other human capital development initiatives, including the Chartered Banker/MBA program of University of Bangor, Scotland in partnership with the CIBN.

He emphasized the importance of continuous high level training in order to achieve the Corporation’s core mandates of deposit guarantee, bank supervision, bank distress resolution and bank liquidation. The ultimate goal, he said, would be to enhance depositor protection and public confidence in the banking system. In his earlier address, the President and Chairman, Council of CIBN, Prof. Segun Ajibola commended the Corporation for its consistent efforts toward meeting high standards for the benefit of the banking industry and larger economy.

Ajibola described the NDIC’s readiness to subject itself to the rigors of the accreditation process as a testimony of its management’s commitment towards capacity development in order to equip its workforce with critical skills to enhance their performance and productivity.

He said that there would be periodic monitoring to ensure that standards were maintained, adding that the accreditation would last for three years after which the Corporation would require recertification.

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