The Nigeria Deposit Insurance Corporation has warned bank customers against depositing or lodging their money in any bank that does not have the sticker of the corporation (NDIC Stickers).
The Coordinator of NDIC Kano zonal office, Alhaji Shehu Usman gave the warning while delivering a lecture organised by the corporation as part of activities to commemorate the 2023 Financial Literacy Day held at Rumfa College in Kano on Thursday.
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He said the call was necessary in order to prevent customers from depositing their money in uninsured institutions thereby leading to the loss of their money.
“I want to use this opportunity to warn bank customers to desist from keeping their money in any bank but only those institutions that are insured.
“So, if you go to any bank that does not have an NDIC sticker pasted outside, don’t deposit your hard earned money in such banks,” the NDIC zonal coordinator said.
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He also warned people against patronising Wander banks because such banks always try to cajole and attract customers with larger or bigger returns.
He said the event, which is a global event, is aimed at enlightening people on the operations of the corporation as well as to ensure that they have adequate knowledge on banks.
He said the decision to hold the event at the secondary school was to educate the students with the necessary knowledge on financial literacy with a view to extending the same knowledge to their parents who are financially illiterate.
In her presentation at the occasion, Ms Khadija Masanawa said the rationale behind the establishment of NDIC was to avoid the repeat of bitter experiences of bank failures in late 2940s to early 1950s when there was no formal mechanism of protecting depositors.
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She explained that the Corporation had provided deposit guaranty to a total of 984 CBN licensed banks across the country.
In his remarks, the Principal of the College, Safiyanu Na’abba commended the corporation for organising the program which he said had enlightened both staff and students of the school on the operations of the corporation.
