…promotes savings culture in Bayelsa schools

By Emem Idio, Yenagoa

The Nigeria Deposit Insurance Corporation, NDIC, has reassured Nigerians that their bank deposits remain safe, urging citizens to maintain confidence in the country’s banking system and embrace a culture of savings.

The assurance was given during a financial literacy and public awareness programme organised for secondary school students in Bayelsa State as part of the Corporation’s efforts to promote healthy financial habits among young people and deepen public understanding of its role in protecting depositors.

Speaking at the event held at the Community Primary School, Opolo, Yenagoa Bayelsa State, the Principal Manager in the Communications and Public Affairs Department of the NDIC, Bokepere Adeghe, said the initiative was designed to equip students with basic financial knowledge, including savings, investment and responsible money management.

According to her, the programme also seeks to raise awareness about the NDIC’s mandate of safeguarding bank deposits and compensating depositors in the event of a bank failure., explaining that the Corporation provides deposit insurance coverage for customers of licensed banks, assuring depositors that their funds are protected up to the insured limit should any financial institution fail.

Adeghe stressed the importance of cultivating a savings culture from an early age, noting that saving requires discipline, consistency and deliberate planning.

She said: “This programme is aimed at improving students’ understanding of financial literacy so they can make informed decisions about saving and investing. It also creates awareness about the role of the NDIC in protecting bank deposits.

“Saving is intentional. If you are not intentional, you will not save. Once people begin to save and see the benefits, they are encouraged to continue. That is why we focus on young people, so they can develop the habit early in life.

“The NDIC’s financial literacy programmes extend beyond schools, with regular public sensitization campaigns on budgeting, financial planning and responsible money management.”

Also speaking, a Manager in the Communication and Corporate Affairs Department of the NDIC, Phoebe Ugot, said the Bayelsa outreach formed part of the Corporation’s broader efforts to educate young Nigerians on the benefits of saving through formal banking institutions and the dangers of fraudulent investment schemes.

Ugot noted that the Corporation organises annual financial literacy and World Savings Day activities as part of its commitment to promoting financial inclusion and responsible financial behaviour

“We are here to teach students the value of saving and to educate them about the NDIC. Our responsibility is to protect deposits and encourage Nigerians to keep their money in insured banks.

“We are trying to instill a savings culture from an early age. financial literacy remains a major challenge in Nigeria, and by starting with secondary school students, we are helping to build a generation that understands the importance of saving and financial planning..

“Our message to Nigerians is simple: keep your money in the bank. Licensed banks remain the safest place for savings because depositors are protected under the Nigeria Deposit Insurance Scheme.”

The NDIC said the financial literacy campaign is part of its broader mandate to enhance public understanding of financial services, strengthen confidence in the banking sector and encourage responsible financial decision-making among Nigerians.

Over 500 students from selected public secondary schools in the state participated in the financial literacy programme which also featured quiz competitions and presentations of prizes to winners and participants.