Key Takeaways
- The Nigeria Deposit Insurance Corporation (NDIC) emphasized the importance of saving and financial discipline among Nigerian youths.
- The NDIC, in collaboration with the Bankers’ Committee and the Central Bank of Nigeria (CBN), organized a financial literacy program at Lagelu Grammar School, Ibadan.
- The event marked the 2026 World Savings Day celebration, aiming to promote financial inclusion and national prosperity.
The Nigeria Deposit Insurance Corporation (NDIC) has urged Nigerian youths to adopt a culture of saving, financial discipline, and safe banking practices. This call was made during the 2026 World Savings Day celebration, which was held at Lagelu Grammar School, Agugu, Ibadan, in partnership with the Bankers’ Committee and the Central Bank of Nigeria (CBN).
The Oyo State Commissioner for Education, Science and Technology, Hon. Olusegun Olayiwola, represented by the Permanent Secretary, Education Inspectorate, Ibadan North, Alhaji Lukuman Kareem, appreciated the NDIC for selecting a school in Ibadan for its sensitization program. He emphasized that such initiatives should extend beyond the classroom to shape young minds and noted that opportunities lost may not be easily regained.
Financial Literacy and Inclusion
The Assistant Director, Communication and Public Affairs, NDIC, Mr. Adegbenga Fagbuyi, explained that the program was designed to educate young people on spending wisely by prioritizing needs over wants. He advised the students on the importance of saving with banks, setting financial goals, maintaining financial discipline, and keeping good company.
The NDIC has sustained the school sensitization program for about 10 years, visiting at least 10 states annually and reaching approximately 200 students in each school. The target for 2026 is to reach 2,000 students nationwide, with the objective of setting a standard that state governments and schools can replicate.
The event featured interactive sessions, a question-and-answer segment, and the distribution of financial literacy materials to students. The Principal of Lagelu Grammar School (Senior), Mr. Gbolagade Adeyanju, commended the NDIC for selecting the school as a beneficiary of the 2026 edition, saying the program would be of immense benefit to both students and teachers.
Why This Matters
The NDIC's financial literacy program plays a crucial role in promoting financial inclusion and national prosperity by educating young people on the importance of saving, financial discipline, and safe banking practices. By empowering youths with financial knowledge and skills, the NDIC aims to create a financially literate and responsible generation that can contribute to the country's economic growth and development.