Adamawa govt lauds NDIC for imparting entrepreneurship knowledge to students

The sensitization workshop.
The sensitization workshop.
Adamawa govt lauds NDIC for imparting entrepreneurship knowledge to students

Adamawa State government has lauded
Nigeria Deposit Insurance Corporation (NDIC) for the series of entrepreneurship knowledge and skills it has been imparting on students and youths of the state over the years.

Commissioner of education and human capital development, Dr. Umar Pella who made the commendation during the sensitization of 100 secondary school students drawn from 10 schools in Yola on the significance of savings for better tomorrow noted that the benefit of such life skills and empowerment could never be overemphasized.

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The commissioner of education who was represented by Mr Simnawa Geoffrey, the Chief Admin Officer in the ministry, described the sensitisation as “catch them young initiative for the students to succeed in future.

He thanked NDIC for the sensitisation and advised students to apply the experience into practice to succeed in life. He noted that such knowledge will empower them to remain afloat in view of the inclement economic situation facing the country.

Earlier on, the Zonal Coordinator of NDIC in charge of Borno, Yobe, Adamawa and Taraba States, Mr Victor Egba, said the sensitisation was organized to inculcate savings culture amongst students in commemoration of this year’s World Savings Day which is annually celebrated on Oct. 31 to raise awareness about the importance of savings.

Egba noted that the theme of this year’s day “Conquer Your Tomorrow Through Savings” is meant to empower the youth with the requisite savings culture for a better and prosperous future.

Cross section of participating students.
Cross section of participating students.

Egba, therefore, said that “the main target is to make students to start planning on how and where to save their monies for the future.

“One of the rationale for establishing NDIC is to protect depositors’ funds in banks; so that in the event of failure, they will not lose their deposits.

“Before, when banks fail, depositors lose all their monies but as it is now, NDIC and the Central Bank of Nigeria are trying to avoid a situation where banks will fail.

“Even if it happens, depositors are guaranteed payment of their sum.”

Mrs Ragina Dimlong, Deputy Director NDIC, Abuja, who presented a paper on mandate, functions and activities of NDIC, said with the establishment of NDIC by the Federal Government, all savings of cleints in banks will be safeguarded even when the banks failed.

She added that the corporation, in collaboration with CBN, monitor all banks to ensure that they provide quality services to customers.

She explained that “NDIC protect customers savings, but does not deal with customers directly except when banks fail.”

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