NDIC Educates Abuja Students On Savings, Investment

The Nigeria Deposit Insurance Corporation (NDIC) has held financial literacy classes for students of Government Secondary School, Tundun Wada in the Federal Capital Territory, Abuja.

The aim is to equip them with a savings culture through the acquisition of various financial principles that include budgeting, earning, wise spending and saving for a secured future. The programme is part of activities to mark the 2023 World Savings Day with the theme “Conquer your tomorrow through savings’.

The financial mentoring programme was organised by NDIC and Junior Achievement Nigeria.

The principal manager of the research department at the NDIC, Dr Waziri Galadima said the choice of the school is to build them, and by extension, build the future of Nigeria. He urged them to be confident in the nation’s financial sector while assuring them that the corporation is always there to protect their wealth in the form of savings. “You are going to be ambassadors of savings to your families and friends because savings are significant.”

He encouraged the students to always save from whatever is available as income and budget for expected incomes, vis-a-vis expenditure. “Create a budget with income and expenses. Pay yourself first by keeping a part of your earnings in a savings account – save wisely and save for emergencies,” he said, adding: “Your savings must be targeted at a goal. You must not save blindly.”

Tanko Ibrahim, who was also on the ground to represent the NDIC, told the students to ensure they always prioritise their needs over wants without which he said, “You will always have a deficit.”

The school principal, Mr Joseph Sunday Akor appealed to the NDIC to come to its aid in the renovation of its dilapidated conference room identified as the “Hall of Excellence” within the school premises in the Zone 4 area of Wuse. “We beg the NDIC to come to the aid of the school and management for the renovation of our Hall of Excellence,” he stated.  

Mr Akor also advised the students to imbibe the habit of savings for the sake of their future. “There is always a rainy season and a dry season. You can only fall back to what you save in rainy or old days,” he stated.