Banks must earn public confidence – Oyedele
According to him, “Across the globe, deposit insurance systems are having to adapt to a rapidly changing financial environment shaped by digital innovation, fintech developments, artificial intelligence and increasing cross-border financial activities.
On the importance of robust crisis preparedness, the NDIC boss said the lessons from the 2023 banking turmoil, the most severe episode of systemic stress since the 2007 – 2008 Global Financial Crisis, underscored the need for readiness in safeguarding financial stability.
He said, “Although different factors drove the bank failures, they triggered a widespread crisis of confidence in banks and financial markets, prompting national and international policymakers to examine the underlying causes and draw critical lessons.
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