{"id":23098,"date":"2022-05-05T18:12:16","date_gmt":"2022-05-05T18:12:16","guid":{"rendered":"https:\/\/www.withinnigeria.com\/broadnews\/?p=23098"},"modified":"2022-05-05T18:12:16","modified_gmt":"2022-05-05T18:12:16","slug":"ndic-collaborates-with-other-deposit-insurance-agencies-to-address-challenges","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/05\/ndic-collaborates-with-other-deposit-insurance-agencies-to-address-challenges\/","title":{"rendered":"NDIC collaborates with other deposit insurance agencies to address\u00a0challenges"},"content":{"rendered":"<p class=\"p1\">The Nigeria Deposit Insurance Corporation (NDIC) said it had embarked on collaboration and cooperation with other deposit insurance agencies globally to address the challenges facing the insurance industry.<\/p>\n<p class=\"p1\">The NDIC Managing Director\/Chief Executive, Bello Hassan, said this at a retreat organised by the Corporation for members of the House of Representatives Committee on Insurance and Actuarial Matters, on Thursday in <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/03\/2023-elections-lagos-lawmaker-insists-tinubu-ll-change-nigerias-story-for-good\/\">Lagos<\/a>.<\/p>\n<p class=\"p1\"><span class=\"s1\">Reports that the aim of the workshop, with theme, \u201cDeposit Insurance in Nigeria: Restrategising for Tomorrow,\u201d was to help lawmakers know the corporation\u2019s problems towards amending the NDIC Act.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cOur world as we know, is rapidly changing. Innovations and threats to existing models of business, regulation and supervision are manifesting in our <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/04\/10\/live-saving-operations-important-to-frsc-official\/\">operations<\/a>.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cRegulators in financial systems across the globe are also brainstorming on fresh ideas to ensure that the financial system remains resilient, sound and stable so as to continue to play its supportive role in the economy.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cThe NDIC is, therefore, not left out in restrategising to enhance its operations,\u201d said Hassan.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">According to him, the Corporation has enhanced collaboration with relevant stakeholders like National Assembly, Federal Ministry of Finance, Budget &amp; National Planning, the Judiciary and the CBN on almost all relevant activities.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cWe are also active on the global scene, and have, therefore, embarked on robust collaboration and cooperation with deposit insurance agencies and global bodies, particularly in the area of knowledge and information sharing.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cThe aim of these efforts is to effectively address the technological, legal, regulatory, and supervisory challenges facing the deposit <a href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/04\/15\/waisa-establishes-college-of-insurance-supervisors\/\">insurance<\/a> system,\u201d he said.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He encouraged financial institutions to effectively manage the risks arising from these new technologies and other innovations to ensure continued safety and soundness of the monetary system.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The Chairman, House of Representatives Committee on Insurance and Actuarial Matters, Darlington Nwokocha, said, \u201cthe aim of the retreat is to make laws to help NDIC boost the confidence of the people that their monies are safe.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cAnd if they don\u2019t have that confidence, we can\u2019t achieve a very stable economy because the banking sector will be disstabilised as well as the economy.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cSo we need them, they need us at this point where we look at the laws; considering again the dynamics in the society.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cLike now, there are few things that we have found in the present NDIC Act that we need to amend so as to give them more power to achieve their mandate more effectively.\u201d\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Nigeria Deposit Insurance Corporation (NDIC) said it had embarked on collaboration and cooperation with other deposit insurance agencies globally to address the challenges facing the insurance industry. The NDIC Managing Director\/Chief Executive, Bello Hassan, said this at a retreat organised by the Corporation for members of the House of Representatives Committee on Insurance and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":23153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"footnotes":""},"categories":[11,1],"tags":[4943,4942,3962],"class_list":["post-23098","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-metro","category-uncategorized","tag-banking","tag-deposit","tag-insurance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NDIC collaborates with other deposit insurance agencies to address\u00a0challenges &#187; BROAD NEWS \u2014 WITHIN NIGERIA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/broadnews\/2022\/05\/05\/ndic-collaborates-with-other-deposit-insurance-agencies-to-address-challenges\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NDIC collaborates with other deposit insurance agencies to address\u00a0challenges\" \/>\n<meta property=\"og:description\" content=\"The Nigeria Deposit Insurance Corporation (NDIC) said it had embarked on collaboration and cooperation with other deposit insurance agencies globally to address the challenges facing the insurance industry. 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