12 Questions
Which entity is responsible for supervising over the affairs of the Corporation and administering the Deposit Insurance Scheme?
The Board of Directors
Who is charged with the day-to-day management of the Corporation according to the NDIC Act?
The Managing Director appointed by the President
Who is responsible for monetary and banking matters according to the text up to 1991?
The Federal Ministry of Finance
Which individual is appointed by the Corporation as its Managing Director?
The Permanent Secretary of the Federal Ministry of Finance
According to the NDIC Act, who is mandated to be the Director of Banking Supervision Department?
A representative of CB
Who is in charge of the Executive Management according to the text?
The Managing Director
What is the main purpose of the Establishment Committee?
To assist the Board in discharging its responsibilities
How many part-time members were on the 12-member Board created by the NDIC Act 2006?
4
What is a key requirement to promote independence among Board members?
Declaring shareholding or significant interest in insured institutions
How many Executive Directors (EDs) were part of the Management Team since 1988?
2
What safeguard is lacking against the abrupt dissolution of the Board as per the text?
Senate confirmation of Board members
What is emphasized as essential for effective governance in the text?
Communication between Board and Management
Test your knowledge on the systems and processes related to ensuring the effectiveness, supervision, and accountability within deposit insurance agencies. Explore topics like the roles of the Board of Directors and the Managing Director in day-to-day management.
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