The Nigeria Deposit Insurance Corporation (NDIC) has urged Bayelsa youths to cultivate the habit of saving early in life, stressing that financial discipline and prudent money management are essential for long-term financial security.
Speaking on Tuesday in Yenagoa during the 2026 Financial Literacy Day programme, Principal Manager, Communications and Public Affairs Department of NDIC, Mrs. Bokepere Adeghe, advised secondary school students to develop a saving culture, prepare budgets before spending, and invest regularly regardless of how little their income may be.
According to her, the programme was designed to improve students’ understanding of financial literacy and equip them with the knowledge needed to make informed decisions on savings, budgeting and investments.
She explained that the initiative also serves as a platform to educate the public on the mandate of NDIC, particularly its role in protecting depositors’ funds in the event of bank failures.
“NDIC protects bank deposits. If a bank fails, the Corporation is there to reimburse depositors up to the insured maximum amount,” she said.
Adeghe emphasized that saving requires deliberate effort and commitment.
“Saving is intentional. If you’re not intentional, you will not save. You must be determined to set money aside, and once you begin to see progress, no matter how little, it encourages you to continue,” she stated.
She described financial literacy as the process of educating people about money management, budgeting, saving and making informed financial decisions.
Also speaking, Miss Phoebe Ugot, a Deposit Insurance Manager in the Communications and Public Affairs Department of NDIC, said the programme is aimed to educate students on the importance of saving and raise awareness about the Corporation’s role in safeguarding deposits.
She explained that NDIC insurance coverage gives depositors confidence to keep their money in licensed financial institutions rather than falling victim to fraudulent schemes.
“When you see the NDIC sticker in a bank, it means that the institution is insured. If a bank collapses, NDIC will reimburse eligible depositors. This is why we encourage Nigerians to save their money in banks,” she said.
Ugot also cautioned against sharing sensitive banking information with strangers or online fraudsters.
“Do not disclose your PIN, ATM card details or personal banking information. Whenever you receive suspicious messages claiming to be from your bank, verify them directly with your bank officials,” she advised.
She noted that NDIC conducts Financial Literacy Day and World Savings Day annually as part of efforts to promote financial awareness and instill a savings culture among young Nigerians.
“We are trying to catch them young. By teaching students early, saving becomes a lifelong habit that will benefit them in adulthood,” she added.
Responding on behalf of participants, an SS2 student of Epie National High School, Gospower Christopher, said the programme had broadened his understanding of financial management and the role of NDIC.
“I learnt that our money is safe in insured banks. We were also taught the importance of budgeting, saving and investing. It has been a great learning experience,” he said.
Christopher noted that students could save part of the money they receive for transport, snacks or gifts and invest it for future needs.
Another participant, Sunday Blessing, an SS1 student of St. Jude’s Secondary School, Amarata, said she learnt the importance of planning expenditure and budgeting.
She pledged to begin saving regularly, acquire vocational skills and apply the lessons learnt during the programme.
The event brought together students from five secondary schools across Bayelsa State and featured interactive sessions on financial planning, savings, investment and entrepreneurship.