AfricaBusiness & FinanceNigeria

NDIC to host 2-day Int’l Virtual Conference from Oct 22

By Oluwaseun Sonde

The Nigeria Deposit Insurance Corporation (NDIC) to host a two-day Virtual International Conference from Thursday, 22 to Friday, 23 October 2020, taken the front seat in the international finance community to drive public discourse on the impact, risks, challenges and opportunities of Financial Technology (FINTECH).

In a statement released and signed by the management of the Corporation on Thursday, the theme “Financial System Stability, Fintech and Emerging Risks: Challenge for Bank, as the Conference is the first of its kind to be hosted by a Deposit Insurance System (DIS) in the African region, by emerging developments and financial system stability effects of Fintech and COVID-19 pandemic.

The Chairman, NDIC Board of Directors, Mrs. Ibironke Sokefun will give the Opening Remarks, while Managing Director/Chief Executive of the Corporation, Umaru Ibrahim will give the Welcome Address, as the International Association of Deposit Insurers (IADI) Secretary General, Mr. David Walker, will deliver Keynote Remarks.

The Conference, brings together speakers & participants from the International Association of Deposit Insurers (IADI), World Bank, International Monetary Fund (IMF), sister deposit insurers, supervisory & resolution authorities, as well as professionals & practitioners in the financial systems across the globe.

Some of the local participants are drawn from the Central Bank of Nigeria (CBN), FITC, Chartered Institute of Bankers of Nigeria (CIBN), Independent Corrupt Practices Commission (ICPC), Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), amongst others. 

The two-day virtual Conference will address pertinent topics such as: How Big Tech and Asian Banks are Reinventing Banking; Emerging Issues on Cyber Risks; Artificial Intelligence, Machine Learning; and Consumer Protection in the Fintech era.

Other topics include, the use of Regulatory and Supervisory Technologies as Early Warning Signals; Regulation of Fintech Payment Service Banks (PSBs); and Identifying the Potential Impact of Disruptive Technologies on On-Site Supervision.

The Conference is part of effort to promote knowledge and experience sharing amongst key stakeholders on Fintech, as well as provides opportunity to promote broad discussion on policy options to address emerging risks and opportunities associated with Fintech.

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