NDIC drives banking awareness and savings culture in Ebonyi schools — Edugist
ABAKALIKI, NIGERIA– TheNigeria Deposit Insurance Corporation (NDIC)has organised an intensive financial literacy outreach in Ebonyi State, educating secondary school students on personal finance management,. . .
ABAKALIKI, NIGERIA– TheNigeria Deposit Insurance Corporation (NDIC)has organised an intensive financial literacy outreach in Ebonyi State, educating secondary school students on personal finance management, smart spending, and the legal framework surrounding bank deposit protection. The sensitisation workshop was hosted for the staff and students of Urban Model Secondary School, Abakaliki, as part of the nationwide activities commemorating the 2026 Global Money Week. Addressing participants at the event, the Principal Manager, Communication and Public Affairs at the NDIC, MrToke Afolayan, stated that early financial exposure is critical to building a stable, financially responsible populace. Operating under the regional campaign theme“Small Money Talks,”the workshop unpacked the primary functions of the NDIC, focusing on how deposit insurance guards individual savings against bank distress and reinforces public confidence across the Nigerian banking sector. Safeguarding Depositors and Strengthening Banking StabilityElaborating on the regulatory role of the corporation, NDIC Senior ManagerMr Shehu Umar-Mohammedexplained that the agency provides insurance cover for depositors in all licensed commercial, mortgage, and microfinance banks in Nigeria. He noted that the corporation actively collaborates with theCentral Bank of Nigeria (CBN)to resolve distress through mergers and acquisitions when necessary. “Financial literacy is about acquiring the skills to make sound financial decisions,” Afolayan emphasised. “Once you acquire the right skills, deciding which licensed bank to keep your money in – rather than hoarding cash at home, becomes straightforward. ”