World Savings Day: NDIC sensitizes students in Ogbomoso on savings, financial management
Femi OGUNLANA
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Nigeria Deposit Insurance Corporation (NDIC) Wednesday organized a sensitization programme for students in Ogbomoso, Oyo state to commemorate the 2024 World Savings Day, whose theme is “Act of Humanity.” The programme was held at Anglican Grammar School, Sabo area.
With 200 students drawn from five public secondary schools in the city viz: Anglican Grammar School, Anglican High School, Orioke Community High School, Orioke Community Secondary School and Owode Community Grammar School, the students were imparted with knowledge on the operations of the NDIC and on the rudiments of financial management.
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The programme which came up under the auspices of the Bankers Committee and Management of NDIC is part of the federal government’s initiative “towards achieving the financial inclusion target through sound financial literacy among the youth beginning from elementary school and above.”
Mr. Imar Kangiwa, NDIC zonal controller, Ikorin, Kwara state, in a lecture titled, “Mandate and Operations of the Nigeria Deposit Insurance Corporation,” dwelled on the establishment of the NDIC, reasons for its establishment, functions, core mandates, as well as its vision, mission and core values.
He noted inter alia, “The NDIC collaborates with CBN to monitor and supervise banks to ensure they operate in safe and sound manner so as to protect depositors; foster monetary stability; promote an effective and efficient payment system; and promote competition and innovation in the banking system,” adding, “The corporation also ensures that failing and failed institutions are resolved in a timely and effective manner, through financial and technical assistance and so on.”
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Also, Mrs. Yetunde Alade, a senior manager in the corporation, speaking on the topic, “Savings prepare you for better future,” charged the students to imbibe the culture of saving, emphasizing, “You are not too young to save, and you don’t need to wait to have big amount of money before you start saving. Savings grow over time, so the earlier you start the better. You should learn to save instead of spending. And at the age you are, you should cultivate the habit of saving 80 percent of what you have, you can spend just 20 percent, that way you grow your income.”
The event which was an interactive session featured question and answer session just as the cultural troupe of the host school spiced the occasion with their thrilling performance.
Principal of the host school, Mr. Abiodun Olowe, earlier in his welcome address, commended NDIC noting it’s a good programme that would benefit both students and other participants.
