DPF CEO Reaffirms Commitment to Stronger Deposit Insurance Across Africa at IADI Africa Regional Committee Annual Meeting – July 21, 2026
The Chairperson of the International Association of Deposit Insurers Africa Regional Committee (IADI-ARC) and Chief Executive Officer of the Deposit Protection Fund (DPF), Dr. Julia Clare Olima Oyet, has reaffirmed the region’s commitment to strengthening deposit insurance systems through enhanced public awareness, crisis preparedness, operational readiness and greater regional collaboration. Dr. Oyet made the remarks while delivering her welcome address at the IADI Africa Regional Committee Annual Meeting and Workshop 2026, hosted by the Nigeria Deposit Insurance Corporation (NDIC) in Abuja, Nigeria, under the theme: “Safeguarding Stability: Public Awareness and Crisis Readiness for a Stronger Future.”
Dr. Oyet expressed gratitude to members of the Africa Regional Committee for renewing their confidence in her leadership by electing her to serve a second three-year term as Chairperson. She pledged to continue working closely with member institutions and the IADI Secretariat to advance deposit insurance across the African continent. Reflecting on the achievements registered over the past three years, Dr. Oyet acknowledged the invaluable support of the IADI Secretariat and the global IADI fraternity, noting that their collaboration had enabled the region to build on the strong foundation laid by previous leaders.
Looking ahead to the 2027–2029 period, she outlined key priorities for the Africa Regional Committee, including improving compliance with the revised IADI Core Principles, promoting region-specific research on emerging issues such as fintech deposit-like products, enhancing members’ operational readiness to facilitate prompt depositor reimbursement, strengthening crisis preparedness through simulation exercises and a regional Crisis Management Handbook, expanding collaboration with strategic partners, and increasing Africa’s visibility and participation within the global IADI community.
Dr. Oyet underscored the critical role of public awareness in maintaining confidence in financial systems, observing that informed depositors are less likely to panic during periods of financial uncertainty. “Failure to engage in extensive public awareness before, during and after a bank closure could create a crisis which could easily spill over and affect other sound banks,” she said. She encouraged deposit insurers across the continent to sustain public awareness efforts and leverage digital communication platforms and credible influencers to educate the public on the role of deposit insurance.
The DPF CEO further highlighted Africa’s significant potential to expand deposit insurance coverage, noting that wider protection of depositors would contribute to greater financial inclusion and support sustainable economic development across the continent. Dr. Oyet also commended the Nigeria Deposit Insurance Corporation for its leadership within the region, describing it as a valuable centre of excellence and benchmarking institution for both emerging and established deposit insurance systems in Africa.
The meeting brought together senior government officials, central bank governors, chief executive officers of deposit insurance agencies, policymakers and financial sector experts from across Africa to discuss strategies for strengthening financial stability through effective public awareness and crisis preparedness. The four-day workshop, running from 20–23 July 2026, provides a platform for participants to share experiences, exchange best practices and strengthen cooperation in advancing effective deposit insurance systems across the continent.
