The Nigeria Deposit Insurance Corporation (NDIC) has emphasized the importance of financial discipline and literacy among students. The NDIC organized a lecture at Hafsatu Ahmadu Model Arabic Secondary School in Sokoto to commemorate the 2023 Financial Literacy Day. The lecture covered topics such as financial planning, the operations of the NDIC, and the benefits of efficient savings and money management.
The NDIC aims to instill financial prudence, management skills, and proper budgeting habits in students to encourage savings and responsible financial behavior. By promoting financial literacy, resource management, budgeting, and saving culture, the NDIC seeks to accelerate investment growth and improve the nation's economy.
The students were advised to utilize their skills in monetary value, power of choice, investment and planning, spending priority, and other financial engagements. They were also cautioned about financial fraud, particularly through online banking and Point-of-Service operators, emphasizing the need for caution and awareness.
The NDIC's objective is to protect the interests of small depositors, promote public confidence, and ensure financial system stability. The agency aims to promote a saving culture and financial planning, particularly among rural dwellers. The NDIC is responsible for compensating depositors in the event of bank liquidation.
The event was attended by representatives from the Central Bank of Nigeria and the National Drugs Law Enforcement Agency, who highlighted the importance of responsible financial behavior and cautioned against drug abuse. The school principal and the Director of Schools in Sokoto State Ministry of Basic and Secondary Education commended the NDIC for organizing the program and expressed hope that it would instill better monetary planning habits in students.
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