The Nigeria Deposit Insurance Corporation has signed a Memorandum of Understanding with the Bank Guarantee Fund of Poland to promote capacity building and experience sharing in the supervision of financial institutions and deposit insurance law and practice.

A statement by the NDIC said the choice of the European bank was based on its accomplishment and the country’s stable financial system.

Furthermore, it said that the BGF of Poland was currently being led by the President of the International Association of Deposit Insurance, Mr. Jerzy Pruski, who has wealth of experience in banking and deposit insurance.

Pruski had been an executive council member and one time vice-president of the IADI.

He is also the current Economic Advisor to the President of the Republic of Poland and a representative of the President at the Polish Financial Supervision Authority.

The statement quoted the Head, Communications, NDIC, Mr. Hadi Birchi as saying, “By signing the MoU with the BGF of Poland, the corporation will benefit immensely towards   enhancing effective implementation of deposit insurance system in Nigeria.”

According to the statement, the IADI is a body set-up in 2002 with the vision of sharing deposit insurance expertise with the world.

It encourages member countries to interact and create a platform for sharing information through various channels such as workshops, conferences, seminars, attachments and knowledge sharing.

Credit Punch