NDIC asks students to embrace saving, safe banking

The Nigeria Deposit Insurance Corporation (NDIC) has called on Nigerian youths to imbibe the culture of saving, financial discipline, and safe banking as part of efforts to drive national prosperity and financial inclusion.

The call was made during the 2026 World Savings Day celebration held at Lagelu Grammar School, Agugu, Ibadan, on Thursday.

The event was organised in collaboration with the Bankers’ Committee and the Central Bank of Nigeria (CBN).

Speaking at the event, 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 sensitisation programme.

He said such initiatives must go beyond the classroom to shape young minds.

“Young children cannot do what is expected of them unless they are properly guided. Not everything can be taught in the classroom. Sometimes, issues like this are better addressed outside the classroom.

“That is why we greatly appreciate the efforts of the Bankers’ Committee, the NDIC, the Central Bank, and all other stakeholders,” he said.

The commissioner charged the students to take the lessons seriously, noting that opportunities lost may not be easily regained.

He also urged teachers to cascade the training to other students and encouraged the students to enlighten their siblings at home.

He further advised the NDIC to expand the programme in future editions to include students from neighbouring schools in order to maximise its impact without incurring additional transportation costs.

In his remarks, the Assistant Director, Communication and Public Affairs, NDIC, Mr. Adegbenga Fagbuyi, said the programme was designed to orient young people on spending wisely by prioritising needs over wants.

“Every decision you make today with money is an investment in who you will become tomorrow,” he told the students.

Delivering a talk on “Smart Money,” Fagbuyi advised the students on the importance of saving with banks, setting financial goals, maintaining financial discipline, and keeping good company.

He explained that the financial literacy programme is part of activities marking Global Money Week, which was adopted by the Bankers’ Committee in Nigeria to mentor young people on savings and investment.

“Financial inclusion means bringing everyone into the financial safety net by encouraging participation in banking, insurance, pensions, and the capital market. The government wants everyone to participate in these sectors,” he said.

Fagbuyi added that the NDIC has sustained the school sensitisation programme for about 10 years, visiting at least 10 states annually and reaching about 200 students in each school. He said the target for 2026 is to reach 2,000 students nationwide.

He noted that the objective is not to cover every school but to set a standard that state governments and schools can replicate.

“We also educate them about the deposit insurance system administered by the NDIC. When you save your money in banks, they are supervised and regulated. If a bank eventually fails, you will not lose your insured deposits. That is what the NDIC does,” he stated.

Earlier, in his welcome address, 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 programme would be of immense benefit to both students and teachers.

The event, which was also attended by the Local Inspector of Education, Ibadan North-East Local Government, Dr. Adeyemi Kayode, featured interactive sessions, a question-and-answer segment, and the distribution of financial literacy materials to students.

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