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By Ankeli Emmanuel (In Sokoto State)

The Nigeria Deposit Insurance Corporation (NDIC), on Wednesday, organized a one-day sensitization workshop at the Sani Dingyadi Unity Secondary school, Sokoto to educate students on the need to cultivate saving culture.

Addressing participants at the workshop, the Director, Asset Management Department of NDIC, Mrs. Emily Osuji represented by Mr Iwaloye Ehinlaiye, stressed that knowledge is an asset, hence the need to let young people understand the importance of savings.

While admonishing the Nigerian youths to plan, draw a personal budget, and ensure that they save not minding how little it is, Mrs. Emily added that financial literacy is very important. According to her, "until you are exposed to savings culture, you stand a risk of losing your hard-earned money".

Continuing, she added that, "the essence of saving cannot be overemphasized especially with the advent of the worsening insecurity lately".

Giving insights on how best to save, Mrs. Emily said, "20 percent of one's income should be saved for the rainy days and not more than 10 percent of your total income be kept for charity.

"Despite the fact that money is hard to earn, some people still spend money anyhow because they do not budget for it. If you have the budget, you do not spend your money outside the budget.

"We want to encourage all of us to reach out for others. We are not taking anything away with us, when we die, we leave everything and go all alone".

While admitting that it's not really easy to save, Mrs. Emily however appealed to the students to match the game, hence marking their progress in connection with visual goals.

On his part, the principal of the school, Malam Umar Moyi Tambuwal, noted that the event is not only very important and timely but will inculcate the habit of planning which is the key to success into the students.

"This event could have come at no better time than now. This is more so that, it is aimed at teaching children the mindset of saving while they are still young, as the best way to secure their future"

Collaborating Mrs. Emily's position, the Zonal Controller, NDIC, Sokoto Zonal Office, Mr Umar Kaoje Bello, said their mandates include amongst others to supervise banks, liquidating banks, ensure depositors money is guaranteed as well as failure resolution.

Kaoje added that towards achieving these mandates, their personnel are trained to uphold the values of integrity, accountability, respect, fairness, discipline, teamwork, and passion as well as professionalism in the discharge of their duties.

In his closing remarks, the Sokoto State Commissioner for Ministry of Basic and Secondary Education, Hon Muhammad Bello Guiwa represented by Aliyi Jodi Babajo Tambuwal, said the State government is happy that the NDIC is teaching their wards how to cultivate the art of savings against all odds.

To the students, the commissioner said, "You have heard the two papers presented here today". NNL.

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