The Nigeria Deposit Insurance Corporation (NDIC) said it has developed a Single Customer View (SCV) platform to be deployed to microfinance banks (MFBs) to eliminate delays often experienced in reimbursing depositors following revocation of failed MFBs licences by the Central Bank of Nigeria (CBN).
Managing Director/Chief Executive of the Corporation, Mr Bello Hassan disclosed this while receiving executive members of the National Association of Microfinance Banks (NAMB) on a courtesy visit to the NDIC Management in Abuja.
According to the NDIC boss, the Corporation introduced the Single Customer View platform in order to strengthen its processes.
He said the platform would not only ensure rendition of quality, timely and complete data to NDIC by MFBs but also give the complete position of depositors’ data at any given time which would go a long way in enhancing prompt reimbursement in case of bank failure.
The MD however said the Corporation would expose the template for the platform to the association with a view to garnering additional inputs towards optimising the noble innovation.
He charged the association to promote the adoption of sound risk management practices by its members, stressing that it is key to the maintenance of a safe and sound MFB sub-sector.
In a statement, Bashir A. Nuhu
Director, Communication & Public Affairs Department of the NDIC said the President of NAMB, Mr Yusuf Gyallesu lauded the Corporation for its continued collaboration with the Association and its members in strengthening microfinance bank operations in the country.
He recalled NDIC’s contribution towards the acquisition of the National Association of Microfinance Banks Unified Information Technology (NAMBUIT) and continuous capacity building for operators amongst other support that the Corporation had given to the association.
The President disclosed the establishment of a Monitoring and Evaluation Department by the Association aimed at promoting sound practices through self-regulation among MFB operators and called on the Corporation to assist in strengthening the operations of the new department.
YOU SHOULD NOT MISS THESE FROM NIGERIAN TRIBUNE
‘Officials initially offered to help but when the number of able-bodied citizens at the centre increased, they left us unattended to’
With the imminent disconnection of the SIM cards of Nigerian phone users who failed to enroll for the National Identification Number (NIN) registration, This report unearths the unsavoury treatment of persons with disabilities at NIMC enrolment centres in the six South-West states which is in disobedience of the provisions of the Disabilities Act and other laws.
NDIC deploys SCV to fast-track depositors’ reimbursement by MFBs
Court Awards Nnamdi Kanu N1 Billion Over Invasion Of His Home By Military, Asks FG To Apologise
Justice Benson Anya of the Abia State High Court sitting in Umuahia on Wednesday awarded the sum of N1 billion to the IPOB leader, Nnamdi Kanu, over the 2017 invasion of his Afara Ukwu home by the military.
Why Ogun Tops List Of ‘Yahoo Boys’ In Nigeria ― Governor Abiodun
The Ogun State Governor, Dapo Abiodun, has said that the presence of many educational institutions in the state was one of the factors why the state tops the list of internet fraudsters popularly known as ‘Yahoo boys’ in the country.
Suspected Cannibal Pays N500,000 For Boy’s Human Organs, Says ‘That’s My Favourite Meal, Especially The Throat’Â
A 57-year-old man, Aminu Baba, arrested by Zamfara State Police Command for allegedly conniving with three others to kill a nine-year-old boy and get his body parts, for which he paid N500,000, opened up on his liking for human parts as a meal, with the throat as his favourite.
Police, Amotekun After Criminals On Lagos-Ibadan Expressway
IN response to the agitations and fears of people plying the Lagos-Ibadan highway over attacks by kidnappers, Ogun State Police Command has assured the general public that it has mapped out strategies to outrun the kidnappers and flush them out of their axis of operation.
NDIC deploys SCV to fast-track depositors’ reimbursement by MFBs
and then