The NDIC has formalised a bilateral cooperation framework with the US Federal Deposit Insurance Corporation (FDIC), enabling knowledge exchange and joint research on deposit insurance best practices.
The Nigeria Deposit Insurance Corporation (NDIC) has signed a bilateral Cooperation Agreement with the United States Federal Deposit Insurance Corporation (FDIC), establishing a formal framework for knowledge exchange, technical assistance, and joint research on deposit insurance systems and bank resolution frameworks.
The agreement was signed on the margins of the International Association of Deposit Insurers (IADI) Annual General Meeting in Basel, Switzerland.
Scope of Cooperation
Under the agreement, the FDIC will provide technical assistance on the design and implementation of the NDIC’s end-to-end digital claims platform. The NDIC, in turn, will share its experience with mobile money integration and biometric depositor verification — areas where Nigeria’s rapid fintech development has produced transferable insights.
Joint Research Programme
A joint research committee will be established to produce two papers per year on topics of mutual interest, starting with a comparative study of coverage limit calibration methodologies in emerging and advanced economies. The research will be published jointly under both organisations’ brands.