The Nigeria Deposit Insurance Corporation (NDIC) has recommended students to practice financial discipline at all times and to embrace saving money.
They are also advised to exercise caution regarding financial fraud, which primarily happens through internet banking, point-of-service employees, and other channels because of avarice and a desire to gain low-cost profits.
NDIC has been advising secondary school students on the advantages of effective saving and money management, according to Umar Kaoje-Bello, the NDIC zonal controller in Sokoto, who gave the advice at this year’s World Saving Day commemorative lecture at A.A. Raji Special School, Sokoto.
According to him, “the aim was to encourage financial prudence and management as well as encourage savings habits among students. It was also to accelerate investment growth in the nation’s economy through financial literacy, budgeting and saving culture.
“Similarly, the exercise provided opportunity to educate youths on commercial and microfinance banks’ activities and dangers of keeping money in unsecure environment.”
On her part, Nusra Wali, of the Corporation Communication and Public Affairs Department said, In spite of the difficulty in earning money, some people are still reckless with it due to the lack of budgeting
She explained to the pupils that, the primary objective of the deposit insurance system in the country was to protect the interest of small depositors, promote public confidence and ensure financial system stability.
Wali thereafter, took the students on question and answers session after a video show on financial management, NDIC functions and educational activities.
The School principal, Alhaji Aliyu Mudi-Sifawa, in his vote of thank assured the corporation that, the students will take advantage of lessons from the lecture and change their attitude to saving money.
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