Legal And Institutional Framework For The Operation Of Deposit Insurance Scheme
Deposit Insurance System (DIS) has become a key component of most financial systems worldwide because of the important roles 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 implementation 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 implementation of the Deposit Insurance Scheme (DIS) 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, 2010 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, 2010 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, 2010 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, 2010 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.
The Title Page should be the first section of your project “Legal And Institutional Framework For The Operation Of Deposit Insurance Scheme”, providing essential details like the project title, your name, your supervisor’s name, the institution, and the submission date. After that, the Abstract offers a brief summary of your project, touching on its purpose, methods, results, and conclusions in 150-300 words. The Acknowledgments section is where you can thank those who supported your research, such as your supervisor, peers, or organizations that provided resources.
Next, the Table of Contents organizes the Legal And Institutional Framework For The Operation Of Deposit Insurance Scheme by listing its chapters and sections, along with page numbers for easy reference. The List of Figures and List of Tables help guide readers to specific visual elements like graphs, charts, or tables included in the document. There should also be an Abbreviations and Glossary section to explain any specialized terms or acronyms, making the content clearer to readers unfamiliar with the technical language.
The main body of the Legal And Institutional Framework For The Operation Of Deposit Insurance Scheme should start with the Introduction, which provides background information, outlines the research problem, states your objectives, and gives a brief overview of your research methods. Following that, the Literature Review offers an in-depth look at previous research relevant to your project, identifying gaps your study aims to address. The Methodology section then explains the research design, tools, and data collection methods you used to conduct the project and analyze the data.
In the Results and Discussion section, you present your findings and discuss them in relation to the Legal And Institutional Framework For The Operation Of Deposit Insurance Scheme research questions or objectives, often using tables or charts to help explain the data. The Conclusion summarizes the key results, discusses their implications, and suggests possible directions for future research. You may also include recommendations based on your findings, offering practical advice for improvements or applications. Finally, the Legal And Institutional Framework For The Operation Of Deposit Insurance Scheme project should include a References or Bibliography section to list all the sources you cited, as well as Appendices for any additional material. A Statement of Originality is often included to confirm the authenticity of your work