NDIC promotes financial literacy, deposit protection in Ebonyi

By Jeff Agbodo, Abakaliki

The Nigeria Deposit Insurance Corporation (NDIC) has organised a financial literacy campaign for students in Ebonyi State to enhance their knowledge of personal finance and create awareness about the protection of bank deposits.

The awareness programme was held for staff and students of Urban Model Secondary School, Abakaliki, as part of activities marking the 2026 Global Money Week.

Speaking at the event, the Principal Manager, Communication and Public Affairs, NDIC, Mr. Toke Afolayan, said the initiative was aimed at promoting financial literacy among young Nigerians while supporting stability in the banking sector.

Afolayan said the programme, themed “Small Money Talks,” provided an opportunity for the corporation to educate students on its core mandates, including protecting depositors and promoting stability in the banking system.

He explained that the financial literacy campaign was designed to equip young people with the knowledge and skills needed to make sound financial decisions, including saving, investing and managing money responsibly.

According to him, “Financial literacy is about acquiring the skills to make sound financial decisions. If you acquire what we describe as financial literacy, you should be able to know which bank to keep your money in instead of keeping it at home. Once you acquire the right skills, such decisions will no longer be difficult.”

He urged the students to cultivate what he described as “smart spending habits” by spending prudently, prioritising their needs and avoiding unnecessary debt.

Also speaking, a Senior Manager at the NDIC, Shehu Umar-Mohammed, said the corporation provides insurance cover for depositors in licensed banks and other financial institutions in Nigeria, while also collaborating with the Central Bank of Nigeria (CBN) to facilitate mergers and acquisitions where necessary.

He assured participants that the establishment of the NDIC had strengthened confidence in the banking system by protecting depositors against the loss of insured funds.

The Ebonyi State Commissioner for Education, Dr. Donatus Ilang, represented by Mr. Igwe Nwuruku, and the Principal of Urban Model Secondary School, Abakaliki, Mr. Paul Odigbo, commended the NDIC for extending the financial literacy campaign to students in the state.

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