The leadership of the Nigeria Deposit Insurance Corporation (NDIC) has emphasised the importance of financial planning and budgeting, describing sound financial habits as vital for long-term stability and economic growth.
This was made known on Wednesday in Jalingo, Taraba State, during activities to commemorate this year’s World Savings Day.
The sensitization programme, aimed at promoting a savings culture, financial safety and responsible money management among young people, was held at Nyanmusala Primary and Secondary School, Jalingo.
The event, as noticed by our correspondent, attracted hundreds of students, teachers and members of the school’s management.
Speaking at the event, an NDIC official, Dr. Idris Mohammed Idris, educated the students on practical ways to manage financial challenges and maintain financial stability. He advised them to set clear financial goals and prioritise their needs accordingly.
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Dr. Idris further urged the students to differentiate between wants and needs, structure their budgets properly and adopt disciplined spending habits. He also stressed the importance of embracing the formal banking system, noting that it remains one of the safest and fastest means of growing savings.
In a related presentation, another NDIC official, Aminu Musa, enlightened participants on the mandate of the corporation and encouraged them to keep their money in recognised financial institutions to ensure safety and security.
Some of the students who spoke with The Guardian after the programme said the knowledge gained would help them plan better for the future. They noted that the lectures had improved their understanding of how to prioritise spending and clearly distinguish between needs and wants.
The students appealed to the NDIC to sustain the initiative, calling for similar financial literacy programmes to be organised on a quarterly basis.
