DEPOSIT INSURANCE AND CONSUMER PROTECTION. BEING A PAPER DELIVERED BY THE ACTING MD/CEO OF NIGERIA DEPOSIT INSURANCE CORPORATION, U. IBRAHIM, AT THE WORLD CONSUMER RIGHTS DAY HELD ON 15 TH MARCH, 2010. Introduction. Definition
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
BEING A PAPER DELIVERED BY THE ACTING MD/CEO OF NIGERIA DEPOSIT INSURANCE CORPORATION, U. IBRAHIM, AT THE WORLD CONSUMER RIGHTS DAY HELD ON 15TH MARCH, 2010
Strong & Robust Banking System
FINANCIAL SAFETY NET
Prudential Regulation & Supervision
Lender-of-last resort facility
Deposit insurance enhances depositor confidence
Low-level Public Awareness of the Deposit Insurance System.
The Fiscal Responsibility Act which requires that 80% of the Corporation’s operating should be remitted to the Federation Account constrains rapid build-up of DIF
Long drawn-out litigation by erstwhile shareholders/directors of closed banks and cumbersome judicial process
Poor corporate governance of insured institutions.
Deposit insurance system is an integral part of an effective safety-net framework
A deposit insurance system is always designed to promote confidence and essentially protect depositors, among other stakeholders.
NDIC’s case presents a remarkable experience