The Nigeria Deposit Insurance Corporation (NDIC) has organised a special session in Lokoja for secondary schools in Kogi State, where pupils were enlightened about financial discipline.
The students were also lectured on importance of cultivating the habit of savings and investment.
Major schools in the state, including Crowther Memorial College, Army Day Secondary School, GYB Model Lokoja and Bishop Delise College all in Lokoja were assembled at GYB Model College, Adankolo where experts gave them lectures on various financial discipline.
Papers were also delivered on Global Money Work, Mandate and Operations of NDIC.
The state Education Commissioner, Wemi Jones, in his address at the event, said the state would not relent in its current efforts at giving priority to education.
The commissioner, who was represented at the occasion by the ministry’s Permanent Secretary, Dr. Albert Bamidele, said this informed the reason why the state invests 30% of its annual budget on education.
He said the state would always collaborate with the NDIC on projects that would further boost education.
Delivering lecture on Global Money Network, Social Media Expert in the Communication Department of NDIC, Bello Muhammed, said the day was set aside to educate young people on financial management, inclusion and savings.
He highlighted some of the functions of the Central Bank of Nigeria (CBN) as including monetary policy formulation, price stability, issuance of legal tender, management of external reserves, ensuring a sound financial system, as well as serving as banker and adviser to the Federal Government.
Muhammed explained that financial literacy enables people to manage their finances effectively, make informed investment decisions and protect themselves against fraud and scams.
He emphasised the importance of saving for the future, noting that “smart money” means thinking before spending and understanding the difference between needs and wants.
Also speaking, Deputy Manager, Bank Examination Unit of NDIC, Mahmod Shafihi, presented a paper on the mandates and operations of the NDIC.
