World Bank, NDIC partner on insurance

The Nigeria Deposit Insurance Corporation said it would in collaboration with the World Bank, hold a forum on deposit insurance to assess the effectiveness of the sub-sector.The Managing Director, NDIC, Alhaji Ibrahim Umaru, made this known on Monday in Dutse at the opening of a workshop for journalists.He said that the forum would hold from December 13 to 15."The World Bank has volunteered to come to Nigeria to train us on how to assess the effectiveness of deposit insurance in the country," he said.He said the forum would provide the opportunity for the participants to assess the level of performance of sub-sector.Umaru said that the forum would also avail the participants of the opportunity to learn international best practices."This will be an avenue to create public awareness and boost the literacy level of Nigerians on financial matters and deposit insurance issues, he said.Umaru said that financial illiteracy was one of the major challenges facing the deposit insurance corporations in the world but he added that Nigeria had made positive strides among other nations on the issue of deposit insurance.The NDIC chief said that the corporation would continue to do all within its reach to protect the interests of depositors.Some 100 journalists are attending the workshop.
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