By Majeed Salaam
Financial literacy is increasingly being recognised as an essential life skill, particularly at a time when young people face growing exposure to digital financial services, investment opportunities and online scams. To prepare the next generation for responsible financial decision-making, the Nigeria Deposit Insurance Corporation (NDIC) is intensifying efforts to introduce financial education at an early stage.
As part of this commitment, the corporation took its financial literacy campaign to secondary school students in Oyo State, using the platform to encourage a culture of saving, responsible spending and informed investing among young Nigerians.
The programme, held at Lagelu Grammar School, Ibadan, formed part of activities marking the 2026 Financial Literacy Day under the Global Money Week initiative. This year’s theme, ‘Smart Money Talks,’ underscores the importance of equipping young people with practical financial knowledge that can guide their choices throughout adulthood.
Speaking during the event, the Managing Director of the NDIC, Mr Sunday Oludare, said financial literacy remains central to the federal government’s financial inclusion agenda, which seeks to ensure that every Nigerian can participate confidently in the country’s financial system.
Represented by the Assistant Director of Communication and Public Affairs, Mr Adegbenga Fagbuyi, Mr. Oludare explained that the Bankers’ Committee adopted Financial Literacy Day as a platform to mentor young people on the importance of developing healthy financial habits.
“Government wants everybody to be a participant in that sector. And how can they be participants if they are not financially literate, if they don’t know how to save or graduate their savings into investment?” he said.
According to him, financial inclusion extends beyond opening bank accounts. It involves helping citizens understand savings, insurance, pensions, investments and other financial services that contribute to long-term economic security.
Mr. Oludare noted that young people are a critical focus of the government’s financial inclusion strategy because the habits formed during adolescence often shape financial behaviour later in life.
“The government does not want young people to grow into adulthood without knowledge of savings, safe banking habits, insurance and the capital market,” he said.
He explained that this objective informed the NDIC’s decision to take financial education directly into schools, where students can begin learning the principles of money management before entering the workforce or higher education.
While acknowledging that it would be difficult to reach every school directly, Mr. Oludare said the corporation hopes the initiative will serve as a model that state governments and educational institutions can replicate across the country.
He specifically called on the Oyo State Ministry of Education, Science and Technology to expand the programme to more schools in order to deepen financial literacy and strengthen financial inclusion among young people.
The campaign received positive feedback from both school administrators and education officials.
Principal of Lagelu Grammar School, Mr Adeyanju Gbolagade, said the sensitisation programme had changed students’ perceptions about personal finance by helping them understand that financial planning should begin at an early age.
According to him, many students now appreciate that they are not too young to develop saving habits or begin learning about investment opportunities.
Also speaking, Oyo State Commissioner for Education, Science and Technology, Mr Olusegun Olayiwola, commended the NDIC, the Central Bank of Nigeria and the Bankers’ Committee for promoting financial education among secondary school students.
Represented by Mr Kareem Lukuman, Permanent Secretary of the Education Inspectorate, Ibadan North, Olayiwola urged the NDIC to extend the initiative to more schools across the state.
He observed that while subjects such as Accounting and Business Studies introduce students to financial concepts, classroom lessons alone are insufficient to provide the practical knowledge required to navigate today’s increasingly complex financial environment.
He therefore encouraged teachers who participated in the programme to share the lessons with students who were unable to attend the sensitisation session, ensuring that the knowledge reaches a wider audience.
Beyond the lectures, students participated in interactive sessions covering savings culture, safe banking practices, legitimate investment opportunities and the mandate of the NDIC. A question-and-answer session also allowed participants to engage directly with financial experts and seek clarification on issues affecting personal finance.
As financial services continue to evolve through digital banking, mobile payments and online investments, initiatives such as the NDIC’s financial literacy campaign are becoming increasingly important. By helping students understand how to save, invest wisely and identify safe financial opportunities, the programme is laying the foundation for a generation that is better equipped to make informed financial decisions.
