The Nigeria Deposit Insurance Corporation (NDIC) is calling for feedback from financial services industry stakeholders, policymakers, and the general public on the ongoing revision of the International Association of Deposit Insurers (IADI) Core Principles for Effective Deposit Insurance System.
The proposed revision, launched by IADI in May 2025, aims to enhance the resilience and relevance of deposit insurance frameworks in the face of an evolving global financial landscape.
The revision will address structural changes, including digital innovation, the growing role of deposit insurers in resolution, and lessons learned from the banking turmoil in March 2023.
The NDIC recognizes the importance of stakeholder input in the revision process and invites stakeholders and the general public to actively participate in the process by reviewing the document on the link https://ndic.gov.ng/wp-content/uploads/2025/06/Draft-Revised-IADI-Core-Principles.
In a release signed by Hawwau Gambo Head, Communication & Public Affairs, the NDIC appealed for feedback to be forwarded to the Corporation on or before June 30, 2025, via email to iadi@ndic.gov.ng.
The IADI Core Principles are used by jurisdictions, including Nigeria, as a benchmark for assessing the quality of their deposit insurance systems.
The principles are also used by the International Monetary Fund (IMF) and the World Bank in the context of the Financial Sector Assessment Programme (FSAP) to assess the effectiveness of jurisdictions’ deposit insurance system and practices.
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