By Elizabeth Adegbesan

The Nigeria Deposit Insurance Corporation (NDIC) has developed a Single Customer View (SCV) platform  to eliminate delays often experienced in reimbursing Depositors  Microfinance Banks (MfBs) following the revocation of failed MfBs licences by the Central Bank of Nigeria (CBN).

The Managing Director/Chief Executive, NDIC, Mr. Bello Hassan disclosed this today while receiving executive members of the National Association of Microfinance Banks (NAMB) on a courtesy visit to the NDIC Management in Abuja.

According to him, the platform  which would soon be deployed to MfBs would not only ensure rendition of quality, timely and complete data to NDIC by MFBs but also give complete position of depositors’ data at any given time which would go a long way in enhancing prompt reimbursement in case of bank failure.

Hassan noted that the Corporation would expose the template for the platform to NAMB with a view to garnering additional inputs towards optimising the noble innovation.

He charged the association to promote adoption of sound risk management practices by its members, adding that it is key to the maintenance of a safe and sound MFB sub-sector.

The President of NAMB, Mr. Yusuf Gyallesu commended the Corporation for its continued collaboration with the association and its members in strengthening microfinance bank operations in the country.

The President further  disclosed the establishment of a monitoring and evaluation department by the association aimed at promoting sound practices through self-regulation among MFB operators and called on the Corporation to assist in strengthening the operations of the new department.