Capacity building: NDIC signs MoU with Bank Guarantee of Poland

From Ngozi Onyeakusi, Lagos

The Nigeria Deposit Insurance Corporation (NDIC) has signed a emorandum of understanding (MOU) with the Bank Guarantee Fund (BGF) f Poland to promote capacity building and experience sharing in the supervision of finance institutions and Deposit Insurance Law and Practice.

The choice of BGF Poland by the Corporation for the MOU, which was signed on June 24, 2014 in Warsaw, is based on the BGF accomplishment and recognition of the Polish stable financial system.

Furthermore, the BGF of Poland is being led by the current President of IADI, Mr. Jerzy Pruski, who has wealth of experience in banking and deposit insurance and has been an Executive Council Member and one time Vice President of the international Association of Deposit Insurance and a onetime Vice President of (IADI). 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.

By signing the MOU with the BGF of Poland, the Corporation will benefit immensely towards enhancing its effective implementation of the deposit insurance system in Nigeria.

The International Association of Deposit Insurers (IADI), a body set-up in 2002 with the vision of “sharing deposit insurance expertise with the world” encourages member countries to interact and create a platform for sharing information through various channels such as workshops, conferences, seminars, attachments and knowledge sharing.

Being a founding and executive council member of IADI as well as a member of several IADI Standing Committees, the NDIC is 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 expertise and experiences with all the IADI members.