Project Materials

GENERAL

THE LEGAL AND INSTITUTIONAL FRAMEWORK FOR THE OPERATION OF DEPOSIT INS…

click here to get this project topic material with complete chapters 1-5 for just ₦3000 flat rate.

Do You Have New or Fresh ic? Send Us Your Topic

ABSTR

Deposit Insurance System () has become a key component of most financial systems worldwide because of the important s it plays in protecting depositors as well as contributing to financial system stability. Since its establishment by the Nigeria Deposit Insurance Corporation (NDIC) Decree No. 22 of 1988, the NDIC, which is charged with deposit protection mandate has remained an active safety-net player in spite of many daunting challenges. The establishment of the corporation was bore out of necessity over two decades ago when the Federal Government conceived the idea of the  of the Structural Adjustment Programme (SAP) in which the deregulation of the banking system would constitute an unholden central pillar. The NDIC has been faced with numerous challenges that have hampered the effective and efficient  of the Deposit Insurance Scheme () in Nigeria. Thus, this research work aims at examining these challenges and to proffer sound recommendations. Firstly, the corporation is faced today with the challenge of execution of court judgement against its assets for liability of banks in liquidation. This is because courts normally regard the NDIC as a successor-in-title of failed banks. Secondly, the amount fixed as maximum deposit claim under section 20(1) of the NDIC Act,  to all the classes of depositors and regardless of the amount of deposit lost by a depositor in the event of failure of a deposit-taking financial institution is not reasonable. Thirdly, the penalty provided under section 45 of the NDIC Act,  for non-compliance with its provisions and failure to secure the authenticity of any statement submitted pursuant to the provision of Act is less punitive. Consequently, it is hereby recommended that the NDIC Act,  should further be amended to bar courts from executing judgement against the assets of the Corporation as a result of its statutory mandate as a liquidator of failed banks. Secondly, reimbursement of deposit lost by a depositor in the event of failure of an insured deposit-taking institution should be made full as this will encourage savings. Finally, the penalty provided under section 45 of the NDIC Act,  should be increased by making it more punitive so as to encourage compliance. For the purpose of this research work, the doctrinal method of research will be adopted.

CHAPTER ONE

 INTRODUCTION

1.9     Background of the Study

In recognition of the strategic importance of a stable banking system to an economy, various institutional arrangements have evolved overtime to foster banking stability; one of such initiatives is the establishment of a deposit protection scheme which is aimed at curtailing the attendant economic disruptions th



Find What You Want By Category:


Not What You Were Looking For? Send Us Your Topic

click here to get this project topic material with complete chapters 1-5 for just ₦3000 flat rate.

TRUCTIONS AFTER

After making payment, kindly send the following:
  • 1.Your Full name
  • 2. Your Active Email Address
  • 3. Your Number
  • 4. Amount Paid
  • 5. Project ic
  • 6. Location you made payment from

» Send the above details to our email; contact@premiumresearchers.com or to our support phone number; (+234) 0813 2546 417 . As soon as details are sent and payment is confirmed, your project will be delivered to you within minutes.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisements