BY JULIET EKWENUGO
Kaduna
The Nigeria Deposit Insurance Corporation (NDIC) has intensified efforts to promote financial literacy among young Nigerians, calling on secondary school students to imbibe a strong savings culture as a foundation for future financial security.
The call was made on Thursday at Government Secondary School, Keffi, during the commemoration of the World Savings Day, themed: “This Is Not a Savings Account.”
Speaking at the event, Assistant Director, Mandates and Operations Department of NDIC, Dr. Bashir Mende, said one of the core operational mandates of the Corporation is to protect depositors’ funds, strengthen public confidence in the banking system, and promote financial stability through formal savings culture.
He explained that educating young people on savings and financial responsibility aligns with the corporation’s broader objective of deepening financial inclusion across the country.
According to him, World Savings Day remains significant as it promotes financial literacy and encourages responsible money habits.
“It is important because it promotes financial literacy and savings culture, which is why the corporation brought this campaign to a secondary school in Keffi to deepen awareness among students,” he said.
Also speaking, Senior Manager at NDIC, Mr. Abdullahi Ubam, stressed the importance of investment in the 21st century, describing it as a strategic step towards long-term prosperity.
He likened investment to planting a seed that yields greater rewards in the future.
“It is like planting a seed today so you can enjoy a bigger harvest tomorrow,” he said.
Ubam outlined practical investment options available to young people, including starting or supporting a business, buying shares or stocks which means owning a part of a company and earning from its profits as well as investing in bonds, which involves lending money to the government or companies in return for interest.
He noted that the theme of this year’s celebration challenges conventional thinking about savings.
“The theme, ‘This Is Not a Savings Account,’ encourages us to look beyond the traditional understanding of savings. Saving is more than just setting money aside; it is a mindset, a culture, and a pathway to empowerment. Every amount saved, no matter how small, represents a step towards financial independence, future security, and resilience in the face of uncertainty”.
In his remarks, Abdulrahman Abdul Keana, who represented the Nasarawa State Commissioner for Education, commended the NDIC for bringing the sensitisation programme to the school, describing financial literacy as essential for shaping responsible future leaders.
He appealed to the corporation to consider establishing savings clubs in secondary schools to institutionalise the culture among students.
“I crave the indulgence of the NDIC to establish a club in our schools. This savings club will harmonise and harness the culture of savings among our students.
“I believe the culture of savings will give them an avenue to understand the rudiments of life in the future because savings is very important. While growing up, they will understand that,” he added.
The event featured interactive sessions where students were enlightened on prudent financial habits and the importance of building savings early in life.
