The Nigeria Deposit Insurance Corporation (NDIC) has conducted a financial literacy program for secondary school students in Kogi State to promote financial discipline, savings, and investment culture among young people.
The event, held at GYB Model College, Adankolo, Lokoja, brought together students from several schools, including Crowther Memorial College, Army Day Secondary School, GYB Model College, and Bishop Delise College. Participants received lectures on financial management, the Global Money Week initiative, and the mandates and operations of the NDIC.
Speaking at the program, Kogi State Commissioner for Education, Wemi Jones, represented by the Permanent Secretary of the ministry, Dr. Albert Bamidele, reaffirmed the state’s commitment to education, noting that about 30 per cent of the annual budget is allocated to the sector. He also pledged continued collaboration with the NDIC to enhance educational development.
A Social Media Expert in the NDIC Communication Department, Bello Muhammed, explained that the program was designed to educate students on financial literacy, inclusion, and responsible money management. He outlined key functions of the Central Bank of Nigeria (CBN), including maintaining price stability, formulating monetary policies, issuing legal tender, managing foreign reserves, ensuring financial system stability, and serving as banker to the Federal Government.
Muhammed stressed that financial literacy equips individuals with the knowledge to manage their finances effectively, make sound investment decisions, and avoid fraud. He encouraged students to develop a savings culture and make wise spending decisions by distinguishing between their needs and wants.
