NDIC calls for joint crisis preparedness framework with CBN
yarkarkara
Chief Executive Officer of the Nigeria Deposit Insurance Corporation, NDIC, Mr Thompson Sunday, has appealed to the Governor of the Central Bank, Olayemi Cardoso, to consider developing a joint crisis preparedness framework with the Corporation to enhance crisis management.
Mr Sunday made the remarks during a courtesy call on the CBN Governor at his office in Abuja, where he listed some challenges facing the Corporation, according to the Head, Communication & Public Affairs, Hawwau Gambo.
He said the absence of a unique identifier, such as the Bank Verification Number (BVN), for corporate customers and the difficulty in collecting premiums from insured institutions that do not maintain accounts with the CBN often proved a problem for the agency.
In her response, the CBN Director of the Financial Policy and Regulation Department, Rita Sike, stated that the joint crisis preparedness framework could be dealt with under the auspices of the Financial Services Regulation Coordinating Committee, FSRCC.
She explained that the CBN was in the process of enhancing the Credit Risk Management System, CRMS, to integrate the Global Standing Instruction (GSI), which will allow for the onboarding of other financial institutions (OFIs).
