The Nigeria Deposit Insurance coverage Company has offered insights into how banks within the nation have remained secure with out arbitrary liquidations.
Based on the NDIC’s Zonal Controller in Bauchi, Ajiya Bazarma, stringent supervision has been a key measure in stopping such incidents.
Bazarma made this assertion on Thursday in Gombe at Authorities Day Secondary Faculty, Gandu, through the 2024 World Financial savings Day celebration, themed ‘Act of Humanity.’
He stated, “By making certain common supervision of banks, we fulfil one in all our key mandates—other than deposit safety, we supervise banks.
“NDIC oversees banks within the curiosity of depositors, making certain that financial institution house owners can not misuse funds. With common oversight, we monitor their actions intently and counter any inappropriate strikes.”
Bazarma burdened that the company is dedicated to making sure depositors recuperate their funds with out incurring losses.
“That is precisely what we do to safeguard depositors’ funds and, in instances of problem, we step in to pay the insured quantity,” he added.
Explaining the company’s motivation for selling monetary literacy amongst college students, Bazarma famous that they’re the leaders of tomorrow.
He stated, “I’m right here with my staff to coach the scholars at Authorities Day Secondary Faculty, Gandu, in Gombe State on World Financial savings Day. Final yr, we celebrated it in Bauchi, and it’s vital to cowl your entire catchment space, of which Gombe is part.
“Selecting a faculty like that is essential, as instilling a financial savings behavior in younger individuals—who’re the leaders of tomorrow—will assist them develop up with monetary literacy. They’ll learn to make investments and handle cash somewhat than spending past their means.”
The Principal of GDSS Gandu, Usman Buba, counseled NDIC for imparting monetary literacy to the scholars, highlighting that it will significantly contribute to poverty discount.
He stated, “We actually respect this initiative, and it’ll assist the kids immensely. Many college students have abilities however lack a financial savings tradition. This programme will significantly profit them.”
In his remarks, Gombe State Commissioner for Schooling, Dr. Aishatu Maigari, represented by the Director of Faculty Sports activities and Extracurricular Schooling, Isa Doho, praised NDIC for commemorating World Financial savings Day and urged college students to take advantage of the sources offered.