NDIC encourages financial discipline, saving habit among students

Mariam Abeeb

The Nigeria Deposit Insurance Corporation (NDIC), has stepped up efforts in inculcating financial literacy on students in various institutions across the country.
Mr Bello Usman-Kaoje, the NDIC Zonal Controller, disclosed this during a training programme organised by the agency for students from different schools in Sokoto state.
Usman-Kaoje said the programme was part of the organisation’s corporate social responsibility aimed at promoting financial discipline and saving attitude.
He said the training, with the theme: “Act For Humanity: World Saving Day”, was in commemoration of 2024 Financial Literacy Day.
According to him, NDIC intends to use the financial literacy training programme to ensure that students of secondary schools in the country get information on how to generate, save and spend their money appropriately.
Kaoje-Bello said: “NDIC has been mentoring secondary school students on the benefits of efficient savings and money management.
“The aim is to encourage financial prudence and management as well as encourage savings and proper budgeting habits among students.
“It is also meant to accelerate investment growth in the nation’s economy through financial literacy, resource management, budgeting, and saving culture.”
Usman-Kaoje also urged the students to be wary of financial frauds, “which mostly occur through online banking and Point of Service (POS) operators among others, due to greed and eagerness to obtain cheap proceeds.”
In his remarks, the Branch Controller, Central Bank of Nigeria (CBN), Sokoto, Mr Abubakar Bello, advised the participants to lodge their money in commercial banks and microfinance institutions, “because they have strict regulations on safeguarding deposits and financial transactions.”
Mr Aliyu Omama, a Deputy Commander of the National Drugs Law Enforcement Agency (NDLEA), Sokoto State Command, cautioned students against the dangers of drug abuse as well as any transaction related to it.
Speaking on behalf of the School Principals, Hajiya A’isha Ibrahim, described the programme as beneficial and urged the students to take advantage of the event for a changed attitude toward saving money.
The participating schools included; Government Girls Secondary School Sokoto, Government Girls Secondary Rabah, and Government Girls Unity Secondary School Bodinga.
The event featured lecture presentation as well as questions and answers on various financial issues among others.
During the event, the minister commended Hexing Livoltek for its commitment to investing in Nigeria amid a challenging economic environment.
Adelabu said the event marked a significant milestone in the journey of the sector towards a more efficient and equitable electricity sector.

He said the launch of the company’s meter manufacturing factory represents a significant step toward local content development, job creation, and reducing the nation’s dependence on importation.

Robert Liang, chief executive officer (CEO) of Hexing Group, expressed optimism about the company’s expansion into Nigeria, describing it as a pivotal moment for advancing clean energy in the country.

“This is a proud moment for the Hexing Group as we open our branch in Nigeria. It’s more than just an office,” Liang said.

The CEO added that the launch marks a step toward a future where clean energy will fuel the nation’s growth.