The Nigeria Deposit Insurance Corporation has provided insights on how banks in the country have remained afloat without arbitrary liquidation.
According to the Corporation’s zonal controller of NDIC Bauchi
Ajiya Bazarma, rapt supervision has been part of step taken to mitigate such.
Bazarma made this disclosure on Thursday in Gombe at Government Day Secondary School Gandu, during 2024 World Savings Day with the theme: Act of humanity.
He said, “By making sure we supervise the banks regularly and one of our key mandate apart from deposit protection is supervision of banks.
“NDIC supervises banks in the interest of depositors so that owners of the bank can’t embezzle their money. When we do it regularly; we know what they do, any move they make we checkmate it.”
Bazarma noted that the corporation would not fail to ensure that depositors get their resources without incurring loss, Exactly, what we do to ensure depositors funds are not used in a negative way and when there is a challenge we come and pay you your insured sum,” he noted.
While explaining the motive behind the corporation’s desire to ensure financial literacy among students Bazarma noted that they are leaders of tomorrow.
He said, “I’m here with my team to sensitise the students in Gandu Government Day Secondary School Gombe State on World Savings Day. We celebrated last year’s own in Bauchi and it’s good to go round as Gombe is part of the zone’s catchment area.
“Choosing a school like this is very important because by the time we inculcate habit of savings in this young guys; they are leaders of tomorrow, they will grow up having financial literacy. They will have knowledge on how to invest, manage money rather than spend more than they earn.”
Also speaking, Principal of GDSS Gandu, Usman Buba, lauded NDIC for the financial literacy officials imbibed the students with stressing that it would go along way in reducing poverty.
He said, “We really appreciate this initiative and it will really help the children. Most of the students have handiwork but don’t have the saving culture. But this programme will help them alot.”
On her part, Gombe State Commissioner for Education Dr Aishatu Maigari, who was represented by Director School Sports and Extracurricular Education, Isa Doho, commended NDIC for the commemoration of World Savings Day, urging students, saying “this programme is very impressive am happy with the resources given to the students.”
