NDIC Sensitises Ebonyi Students on Financial Literacy

Benjamin Nworie in Abakaliki

The Nigeria Deposit Insurance Cooperation NDIC has stepped up financial awareness campaign for young Nigerians to enhance their financial literacy, protect their bank deposits and other valuable assets from risks.

The Principal Manager, Communication and Public Affairs of NDIC, Mr. Toke Afolayan, stated this during the 2026 global money week, a financial awareness organised by NDIC for staff and students of Urban Model Secondary school, Abakaliki in Ebonyi state.

Afolayan noted that the program with the theme “small money talks” provided opportunity for NDIC to enlighten the students on the core mandate of the regulatory agency which includes protecting the depositors, promoting stability in the banking sector among others.

He further explained that the financial awareness program was to equip young people of school age with the right skills to make financial decisions including how to invest, save and allocate their money.

According to Afolayan: “financial literacy is for you to acquire skills to make financial decisions. As you are sitting down here, if you acquire what we describe as financial literacy, you should be able to know which bank to put your money instead of keeping your money in the house. If you acquire the skills, such decision will never be a problem for you”.

He charged the students to imbibe what he described as “smart spending habit” by prudent spending, prioritising their needs and avoiding debts.

A senior manager in NDIC, Shehu Umar-Mohammed said the Cooperation also provides insurance cover to depositors in licensed banks and other financial institutions in the Nigeria and collaborate with CBN to facilitate merger or acquisition.

He also assured them that the fear of losing financial deposits in the bank has become a thing of the past with the NDIC in place.

The commissioner for education, Dr. Donatus Ilang, represented by Mr. Igwe Nwuruku and the Principal of Urban Model Secondary School, Abakaliki, Mr. Paul Odigbo, appreciated the NDIC for extending the financial awareness campaign to students in the state.