BY PATRICK MGBODO
THE Nigeria Deposit Insurance Corporation (NDIC) yesterday, brought its financial literacy campaign to secondary school students in Delta State, mentoring them on effective money management as part of activities to celebrate the 2024 World Savings Day.
Speaking at the event held at Government Model Secondary School, Asaba, the Commissioner for Secondary Education, Mrs. Rose Ezewu, emphasized the importance of equipping students with financial knowledge to make informed decisions.
Represented by the Education Officer, Oshimili South Field Office, Mr. Collins Okwuenu, Ezewu noted that the event’s theme, “Act of Humanity,” aligns with the state government’s vision of promoting financial literacy.
“Financial literacy bridges economic disparity, fosters responsible money management, and creates a financially inclusive society. I recognize the critical role of financial education in shaping Nigeria’s economic future. This initiative aligns with the ministry’s goals and the federal government’s financial inclusion strategies,” she said.
In her presentation, the NDIC Zonal Coordinator (Benin), Mrs. Patricia Okosun, educated students on the history, mandate, and operations of the NDIC. She explained that the agency, jointly owned by the Central Bank of Nigeria (CBN) and the Federal Ministry of Finance, plays a vital role in safeguarding depositors and stabilizing the financial system.
“Our mission is to protect depositors and contribute to financial system stability through effective supervision of insured institutions, provision of financial and technical assistance to eligible institutions, prompt payment of guaranteed sums, and orderly resolution of failed institutions,” Mrs. Okosun said.
She also encouraged the students to cultivate a savings habit early, stressing that saving small amounts consistently builds financial discipline, just as she inspired them to ensure that their financial priorities align with their income.
“If you do not start saving now, you will find it difficult to save even when you start earning. It’s important to develop the habit of saving, which can later lead to investing and benefiting from compound interest,” she advised.
Earlier, the Principal of Government Model Secondary School, Mrs. Obiajulu Eboka, commended the NDIC for enriching the financial knowledge of the students. She also thanked the Commissioner for Secondary Education, Mrs. Ezewu, for facilitating the event.
The 2024 World Savings Day, celebrated in Asaba by the NDIC in collaboration with the Bankers’ Committee, was established in 1924 in Milan to promote the culture of savings worldwide.
