The Nigeria Deposit Insurance Corporation (NDIC) has sensitised secondary school students in Gombe state on savings and financial literacy.
NDIC’s Zonal Controller in Bauchi, Ajiya Bazarma, said the sensitisation is part of the 2024 World Savings Day celebration held at the Government Day Secondary School (GDSS), Gandu.
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He explained that the corporation was in Gombe to commemorate the ‘World Saving Day,’ as well as inculcate financial literacy among secondary school students.
“I am here with my team to educate the students of GDSS, Gandu, to celebrate World Savings Day.
“Choosing a school like this is crucial, as instilling a savings habit in young people, who are the leaders of tomorrow, will help them grow up with financial literacy. They will learn how to invest and manage money rather than spending beyond their means,” Bazarma explained.
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The zonal controller added that the effective supervision role of the NDIC over commercial banks has played a key role in preventing arbitrary liquidations in the country’s banking industry.
He said stringent supervision of the banks, through regular supervision provided by the agency to ensure deposit protection, has been a key factor in preventing incessant incidents of bank liquidations.
Bazarma added that the NDIC is committed to ensuring depositors recover their funds without incurring losses.
“NDIC oversees banks in the interest of depositors, ensuring that bank owners can not misuse funds. With regular oversight, we monitor their actions closely and counter any inappropriate moves,” he said.
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The Principal of GDSS Gandu, Malam Usman Buba, commended NDIC for imparting financial literacy to the students, highlighting that it would greatly contribute to poverty reduction.
He said, “We really appreciate this initiative, and it will help the children immensely. Many students have skills but lack a savings culture. This programme will greatly benefit them.”
