The Nigeria Deposit Insurance Corporation (NDIC) has urged thecreation of a world class Microfinance Training Institute in the country to enhance continuous capacity building in the banking subsector.
The Managing Director / Chief Executive of NDIC Alhaji Umaru Ibrahim, who made the call, also advocated for the incorporation of All Women Microfinance Bank (MFB) wholly owned by Women NGOs in the country, to protect the interest of small depositors and boost public confidence in the microfinance banking sub sector.
Alhaji Ibrahim, made the call when he played host to the Executive members of National Association of Microfinance Banks (NAMB) who paid him a courtesy visit in his office, said that the NAMB request for Unit MFBs to have multiple branches and operate cash centres in local government areas of their operations was before a joint Committee which must be critically analysed and judged based on its merit. He, therefore, advised the Association to await the recommendations of the Committee on the matter.
The NDIC boss reminded the association of the fundamental role of MFBs as grassroots business units toward enhancing financial literacy and consumer protection in promoting financial inclusion.
He emphasized that only happy and satisfied depositors could guarantee the much needed public confidence in the banking system, saying that the NDIC had put in place 24 hour toll free Help Desk to respond to all enquiries from depositors across the country.
Alhaji Ibrahim lamented the low level of payment of assessed premium amongst the MFBs which necessitated the need for a tripartite agreement between the Corporation, MFBs and their correspondent banks to facilitate prompt collection of premium in the subsector.
