Depositors in money deposit banks will continue to be safeguarded against the adverse impacts of bank failures in the country, the Nigeria Deposit Insurance Corporation (NDIC) has assured.
The Managing Director/Chief Executive of the Corporation, Bello Hassan, gave the assurance in Abuja when the Minister of State for Youth Development, Ayodele Olawande, visited him.
Hassan who was represented by the Executive Director (Operations), Mustapha Ibrahim, said the Corporation would continue to deepen and expand public awareness on its mandate and activities, especially among youth and unbanked populations in rural areas through the Ministry’s Nigerian Youth Academy (NiYA) initiative as a veritable tool for financial inclusion.
The MD highlighted NiYA’s potential to enhance capacity building and empower Nigerian youths, foster business activities, entrepreneurship, and wealth creation.
He said this aligned with NDIC’s objectives of promoting financial inclusion and strengthening public confidence in the nation’s financial system.
The initiative, he maintained, would create an enabling environment for Nigerian youth to thrive and contribute meaningfully to the nation’s development.
In his remarks, the Minister commended the NDIC for its significant achievements in safeguarding depositors from the adverse impacts of bank failures in the country’s economy.
He noted NDIC’s consistency in supporting the Central Bank of Nigeria (CBN) in overseeing the banking sector and contributing to the stability of the nation’s financial system and economy.
The Minister said the ministry was ready to collaborate with the Corporation to further deepen and expand public awareness on the mandate and activities of the NDIC, especially among youth and unbanked populations in rural areas to promote financial inclusion.
He explained that NiYA was a response to the Presidential mandate to the ministry aimed at unleashing the creative potential of Nigerian youth for employment generation and wealth creation.
Olawande described NiYA as a digital marketplace connecting Nigerian youth, both domestically and in the diaspora, to showcase their creativity, acquire relevant skills, and secure employment opportunities that aligned with their life ambitions.
The initiative, which anchored on the slogan “One youth, two skills, one local government, one product,” aims to empower seven million youths with transformative skills to engage them in productive endeavours.
It features components such as online classes, job fairs, and access to resources and funding.
Also, the Ministry is partnering with agencies mandated for skills acquisition and empowerment to achieve its objectives.
