NDIC promotes financial literacy, deposit protection in Ebonyi

The Nigeria Deposit Insurance Corporation (NDIC) organized a financial literacy campaign for students in Ebonyi State, aiming to enhance their understanding of personal finance and raise awareness about bank deposit protection. The program targeted staff and students at Urban Model Secondary School in Abakaliki as part of the 2026 Global Money Week activities.

Mr. Toke Afolayan, Principal Manager of Communication and Public Affairs at NDIC, stated that the initiative, themed “Small Money Talks,” was designed to foster financial literacy among Nigerian youth and bolster stability in the banking sector. He explained that the campaign equipped students with essential knowledge for making sound financial decisions, including saving, investing, and responsible money management.

“Financial literacy is about acquiring the skills to make sound financial decisions,” Afolayan said. “If you acquire what we describe as financial literacy, you should be able to know which bank to keep your money in instead of keeping it at home. Once you acquire the right skills, such decisions will no longer be difficult.” He also encouraged students to adopt prudent spending habits, prioritize needs, and avoid unnecessary debt.

Shehu Umar-Mohammed, a Senior Manager at NDIC, highlighted the corporation's function in providing insurance cover for depositors in licensed financial institutions. He mentioned NDIC's collaboration with the Central Bank of Nigeria on mergers and acquisitions. Umar-Mohammed assured attendees that NDIC's existence strengthens confidence in the banking system by safeguarding depositors from losing insured funds.

Officials from the Ebonyi State Ministry of Education and the Principal of Urban Model Secondary School commended NDIC for bringing the financial literacy campaign to the state's students.

“

Financial literacy is about acquiring the skills to make sound financial decisions. If you acquire what we describe as financial literacy, you should be able to know which bank to keep your money in instead of keeping it at home. Once you acquire the right skills, such decisions will no longer be difficult.