The Nigeria Deposit Insurance Corporation (NDIC), has advised students to embrace financial savings and develop financial discipline at all times.
They are also urged to be wary of financial fraud that mostly occur through online banking, Point-of-Service operators and others, due to greed and eagerness to obtain cheap proceeds.
Umar Kaoje-Bello, the NDIC zonal controller in Sokoto, who gave the advice at this year’s World Saving Day commemorative lecture at A.A Raji Special School, Sokoto, remarked that, NDIC had been mentoring secondary school students on the benefits of efficient savings and money management.
According to him, “the aim was to encourage financial prudence and management as well as encourage savings habits among students. It was also to accelerate investment growth in the nation’s economy through financial literacy, budgeting and saving culture.
“Similarly, the exercise provided opportunity to educate youths on commercial and microfinance banks’ activities and dangers of keeping money in unsecure environment.”
On her part, Nusra Wali, of the Corporation Communication and Public Affairs Department said, In spite of the difficulty in earning money, some people are still reckless with it due to the lack of budgeting.
She explained to the pupils that, the primary objective of the deposit insurance system in the country was to protect the interest of small depositors, promote public confidence and ensure financial system stability.
Wali thereafter, took the students on question and answers session after a video show on financial management, NDIC functions and educational activities.
The School principal, Alhaji Aliyu Mudi-Sifawa, in his vote of thank assured the corporation that, the students will take advantage of lessons from the lecture and change their attitude to saving money.