By Jennete Ugo Anya
Confidence in the banking system remains one of the strongest pillars of economic stability. During periods of financial uncertainty, effective deposit insurance, clear public communication and coordinated crisis management help protect depositors, strengthen confidence and minimise systemic risks. As financial systems across Africa become increasingly interconnected and exposed to emerging threats such as cybercrime and rapid financial technology innovation, regulators are placing greater emphasis on crisis preparedness and institutional resilience. Against this backdrop, Nigeria recently hosted Africa’s leading deposit insurance institutions to advance regional cooperation and strengthen financial safety nets.
The Nigeria Deposit Insurance Corporation (NDIC) hosted the 2026 International Association of Deposit Insurers (IADI) Africa Regional Committee (ARC) Annual Meeting and Workshop in Abuja from July 20 to 23, 2026, bringing together deposit insurance leaders, financial regulators and policymakers from across Africa to deepen collaboration on depositor protection and financial system stability.
The details of the meeting were contained in a statement issued by Hawwau Gambo, Head of Communication and Public Affairs Department of the NDIC.
The four-day meeting was held under the theme, ‘Safeguarding Stability: Public Awareness and Crisis Readiness for a Stronger Future.’
The regional engagement attracted chief executives, directors and senior officials of deposit insurance institutions, financial regulators and other stakeholders within Africa’s financial safety net to examine strategies for strengthening public awareness and improving crisis preparedness in line with the revised IADI Core Principles.
Discussions focused on sustaining depositor confidence, strengthening communication during periods of financial stress and improving coordination among financial safety-net institutions to enhance the effectiveness of crisis response mechanisms.
Participants also explored practical approaches to crisis management and bank resolution while examining how deposit insurers can better respond to emerging risks associated with financial technology innovation and cyber threats.
The workshop provided a platform for peer learning and experience sharing among African deposit insurers facing similar regulatory and financial stability challenges.
Technical committee meetings, plenary sessions and interactive roundtable discussions examined public awareness strategies during both normal and crisis periods, crisis preparedness and management, system-wide response operations and simulation exercises designed to test institutional readiness.
Declaring the conference open, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, underscored the importance of strong financial safety-net institutions in preserving confidence in the banking system and supporting financial stability.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, delivered the keynote address, highlighting the role of effective deposit insurance frameworks in supporting broader financial sector reforms and economic resilience.
The meeting also featured contributions from the Secretary General of the International Association of Deposit Insurers, Eva Hüpkes, the Chairperson of the IADI Africa Regional Committee, Julia Oyet, and other senior officials from deposit insurance institutions across the continent.
Hosting the conference, the Managing Director and Chief Executive Officer of the NDIC, Thompson Oludare Sunday, reaffirmed the corporation’s commitment to strengthening collaboration among deposit insurers and promoting international best practices in depositor protection and crisis management.
The conference reinforced the importance of coordinated action among financial regulators as African economies continue to navigate evolving financial risks and increasing digital transformation. Participants agreed that stronger public awareness, effective communication and institutional preparedness remain essential to maintaining confidence in financial systems during periods of uncertainty.
Nigeria’s hosting of the regional gathering further demonstrated its commitment to advancing financial sector stability and strengthening cooperation among African financial safety-net institutions. As financial services continue to evolve, sustained collaboration, knowledge sharing and stronger crisis preparedness frameworks will remain critical to protecting depositors, enhancing banking sector resilience and supporting sustainable economic growth across the continent.
