The Nigeria Deposit Insurance Corporation has called on Nigerian youth to reject cybercrime and the “get-rich-quick” mentality, urging them to embrace legitimate ways of earning a living.
The Benin Zonal Controller of NDIC, Mrs. Patrick Okosun, made the appeal on during this year’s Financial Literacy Day event in Asaba, Delta State.
Addressing over 200 students of Osadenis Mixed Secondary School, Asaba, Okosun warned against illegal money-making schemes such as cyber fraud, popularly known as Yahoo Yahoo, stressing that such activities hinder personal and societal progress.
She highlighted NDIC’s role in ensuring the safety and stability of Nigeria’s financial sector, stating that the corporation works in collaboration with the Central Bank of Nigeria to supervise banks, protect depositors’ funds, and promote efficient payment systems.
“NDIC is a federal government agency where CBN holds a 60% share, while the Ministry of Finance controls 40%. Our mandate is to ensure the financial system remains safe, stable, and effective,” she explained.
Also speaking at the event, Delta State Commissioner for Education, Mrs. Rose Ezewu, commended NDIC for promoting financial literacy among students. Represented by Deputy Director of Secondary Education, Mrs. Justina Ishala, she said the initiative aligns with the state government’s vision of equipping young people with the financial knowledge needed to navigate the modern economy.
She urged students to seize the opportunity to learn from financial experts, emphasizing the importance of prudent money management.
“The theme of the 2025 Financial Literacy Day is particularly relevant, as it highlights the need for young people to make wise financial decisions that will shape their future,” she added.
