Following the recent review of its Differential Premium Assessment System (DPAS) framework, the Nigeria Deposit Insurance Corporation (NDIC) has sought input
In a release by the director, communication and public affairs department, Bashir Alhassan Nuhu, the NDIC said the differential premium assessment system framework was reviewed to make it more risk sensitive and account for significant developments that had taken place in the Nigeria banking system since its adoption in 2008.
It stated further that the review was informed by the need to ensure that the framework conforms to the recommendations of the International Association of Deposit Insurers and other global best practices. Bashir said now that the review is at consultation stage, it is imperative for the corporation to solicit input from its critical stakeholders, adding that the exposure draft has been placed on the Corporation’s Website, www.ndic.gov.ng for review.
The release urged stakeholders to forward their input, comments and recommendations to NDIC Director, Insurance and Surveillance Department onThe NDIC adopted the Differential Premium Assessment System in 2008 following the issuance of its framework in 2007 to differentiate premiums payable by Insured Financial Institutions based on their respective risk profile.
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