Why Naira Redesign Policy Caught Nigerians Unaware — NDIC

Date: 2023-11-08

Nigerian Deposit Insurance Corporation (NDIC) on Tuesday said the Naira redesign policy of the Central Bank of Nigeria (CBN) early in the year caught a lot of Nigerians unaware because of the poor saving culture of the people.

The controller, Ilorin office of the NDIC, Hamzat Kangiwa stated this in Ilorin, Kwara State at this year's World Savings Day for secondary schools students where 11 secondary schools participated.

The event was held at the Government Secondary School, Maraba area, Ilorin.

“In the north where I hail from, traders hardly put their money in banks. This is because of the type of business they do. Saving is very difficult. That is why we have invited you to inculcate in you pupils the culture of lodging your money in financial institutions.

“Look at the Naira redesign programme early in the year. A lot of people lost huge sums of money. Others died because they kept their money in their houses.

“To avoid this kind of thing in future, it is important to encourage the habit of savings. NDIC is no bank, it is encouraging people to save money so that they can protect their money.

“The primary objective of our being here today is to encourage young ones to imbibe savings culture. The only thing NDIC and CBN can do is to encourage you to put your money in money banks or any of these financial institutions for safety and accompanying interest.

“In case of eventuality, NIDC is there to pay such money back to the depositors,” Kangiwa stated.

Source

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Ilorin Likeminds Foundation     Matthew Babaoye     David Adesina     Amuda Aluko     Ganmo Electricity Sub-Station     Iliasu     Egbewole     Omoniyi Ayinla     Okin Group     Saheed Alakoso     Transition Implementation Committee     Jamiu Oyawoye     Oba Sulaiman Asude     Garba Ayodele Wahab     Bank Of Industry     Zaratu Umar     Gaa Olobi     Ilorin Like-Minds     Shehu Adaramaja     Boko Haram     Baruba     Rice Farmers Association Of Nigeria     Muslim Cementary     Adaramaja     Olufolake Abdulrazaq     Ahmad Fatima Bisola     Abdulkadir Bolakale Sakariyah     College Of Arabic And Islamic Legal Studies     Ethical College     Ayinke Saka     Ahman Patigi     Ayo Opadokun     S.O. Opowoye     Erubu Oba Zubair     JAAC     Saidu Yaro Musa     Zara Umar     Sa\'adu Gambari     KWIRS     Neo Mundo Ltd     Goodluck Jonathan     Ilorin Emirate Staff Association     Kannike     Sam Okaula     Ile Arugbo     Garba Dogo     Abdulmumini Jawondo     Kamaldeen Kehinde     Abdulazeez Uthman     Saliu Ajibola Ajia     Tosho Yaqub     Fatimah Abdulkadir     Okanlawon Taiwo     David Oyepinola Adedumoye     Olatunji Ibrahim     Vasolar Consultoria     20 Billion Bond     Ilorin Emirate     COEASU     Aro Yahaya     Kwara State Fish Farmers Association     Split Diamond Interchange     Oladipo Akanmu Tolani     Crystal Corner Shops     Ambassador Kayode Laro     Lanwa     Paul Odama     Saka Saadu     Colleges Of Education Academic Staff Union     Special Agro-Industrial Hub     Shururat Olatinwo     Aliyu Salihu     Eruku     Ijagbo Health Centre     Raji AbdulRasaq     Mahmud Ayinla Giwa     Sunday Popo-Ola    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Elese Of Igbaja     AbdulHamid Adi     Asiwaju Bola Tinubu     Soffiyyallah Kamaldeen     Abdullahi G. Mohammad     April 11     General Hospital, Offa     Islamiya Abdulraheem     Kayode Oyin Zubair     Gambari     Bank Of Industry     Yusuf AbdulRasheed     BECE     Junior Secondary School Certificate Examinations     Abdulfatai Baakini     Taofik Mustapha     Bola Tinubu     Baba Isale     Tsaragi     Ahmed Shuaib Buranga     Galland Marcias     Baboko Primary School     College Of Health     Olupako     Oloyede     Hijab     Adamu Ibrahim Sabi     Kumbi Titilope     Otunba Taiwo Joseph     Millennium Development Goals     Emir Of Yashikira     Muslimah Entrepreneurship Forum     Imodoye Writer’s Enclave     Ayodele Kuburat Olaosebikan     Sanusi Abubakar     Bureau Of Lands     Olatunji Ayeni     SWAN     Aliyu Muhammed     ER-KANG Mining     Rebecca Bake     Belgore     Joseph Daudu     Adedipe     Esinrogunjo     Diagnostic Centre     Yahaya A Paniyaro     Bolakale Saka     Forgo Battery Company Limited     Yusuf Ibitokun Sherifat     Valsolar Consortium     Abdulkadri Ahmad Alaiye     Bisi Kristien     Tunde Kazeem     Mahmud Durosinlohun Atiku     Bola Ahmed Tinubu     Dairo Kunle Paul     NURTW     Standard Organization Of Nigeria     First Lady     Congress For National Consensus     Oko     Khairat Gwadabe     Michael Nzekwe     Olatunde Olukoya     Mubarak Oladosu     Adijat Adebiyi     Yomi Ogunsola     Kayode Ishola     New Naira Notes     Amule Elementary School     Niyi Ogundiran     Park     Iqra Books     Salihu Ajia     CUTI     Garment Factory