NDIC, Poland Sign MoU on Capacity Building

The Nigeria Deposit Insurance Corporation (NDIC) said it had signed a Memorandum of Understanding with Bank Guarantee Fund of Poland to promote capacity building on deposit insurance law and practice.

Notice of the MoU is contained in a statement signed by Mr Hadi Birchi, head of Communication and Public Affairs of NDIC on Tuesday in Abuja.

The statement quoted Birchi as saying that the MoU, which was signed on June 24 in Warsaw, the Polish capital, would promote the sharing of experience in the supervision of finance institutions.

He said: “the choice of BGF Poland by NDIC is based on the Fund’s accomplishment and recognition of the polish stable financial system.

“The BGF of Poland is being led by the current President of International Association of Deposit Insurance, Mr Jerzy Pruski, who has wealth of experience in banking and deposit insurance.

“Mr. Pruski is also the current Economic Advisor to the President of the Republic of Poland and Representative of the President at the Polish Financial Supervision Authority.”

The NDIC Head said that the signing of the MoU would enhance effective implementation of the deposit insurance system in the country.

The statement said IADI was set up in 2002 to share deposit insurance expertise with the world and encourage member countries.

It said member countries were to interact and create a platform for sharing information through workshops, conferences, seminars, attachments and knowledge sharing.

It added that NDIC was in the forefront of championing the ideals of IADI, by tapping from the experiences and expertise of other deposit insurance systems and sharing its own with IADI members.

Nigeria was one of the founding and executive council members of IADI and a member of several IADI Standing Committees.