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Monday, March 27, 2023

NDIC Urges Students to Embrace Saving Habits

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Abdulfatai Abdulsalami, Sokoto

The Nigeria Deposit Insurance Corporation (NDIC), has counselled students to embrace financial savings and efficient budgetary habits to ensure productive living.

The NDIC Zonal Controller in Sokoto, Umar Kaoje-Bello, made the call on Monday during a lecture in commemoration of 2022 Financial Literacy Day celebration at Nana Girls Secondary School, Sokoto, with the theme “Build your Future, Be Smart About Money”.

Kaoje-Bello, in his presentation noted that NDIC has been mentoring secondary school students to enlighten them on the benefits of savings and how to manage money in efficient ways.

According to him, “the initiative is to encourage financial prudence and resource management among students, as NIDC remained committed to promoting savings, budget culture and remodelling youths to improve their financial inclusion.

“The exercise provides the chance to educate young ones on commercial and microfinance banks activities, how to keep their money safe, and dangers of keeping money in an unsecured environment that can be stolen or mutilated by termites.

“Good saving and proper budgetary habits would encourage prudence, transparent dealings and growth of businesses, in view of the need to have empowered individuals in the society.”

The Zonal Controller urged participants to be wary of all forms of financial frauds mostly through online banking services, Points of Service (POS) Operators and other forms, which occur due to greed and eagerness to obtain cheap proceeds.

On his part, Hassan Idris, the Assistant Director Banks Examinations Unit of NDIC, said NDIC desired to derive financial inclusion in students on daily activities and the entire people of the country.

Idris said that targeted areas included rural areas to educate them on financial systems in order for them to take advantage of the benefits that are available in the financial systems to boost their businesses along with other engagements.

He further dwelled on the NDIC’s core mandates of ensuring bank depositor’s guarantee, banks supervision, failure resolutions and banks liquidations.

The School Principal, Hajia A’Isha Abdulkadir, while applauding the NDIC initiative, urged the students to take advantage of the educative event by having a change of attitude of properly keeping their money in a safe place in the banks.

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