Fed Govt Applauds NDIC for Protecting Depositors
…Seeks Collaboration on Youth Financial Inclusion
By Patience Ikpeme
The Nigerian government has commended the Nigeria Deposit Insurance Corporation (NDIC) for its role in safeguarding depositors from bank failures. Minister of State for Youth Development, Mr. Ayodele Olawande, praised NDIC for its ongoing support to the Central Bank of Nigeria (CBN) in maintaining a stable banking sector and contributing to the overall financial system’s health.
During a visit to NDIC headquarters, Mr. Olawande expressed the Ministry’s desire to collaborate with the Corporation to raise public awareness about NDIC’s mandate and activities, particularly among youth and unbanked populations in rural areas. He proposed utilizing the Ministry’s Nigerian Youth Academy (NiYA) initiative as a tool for promoting financial inclusion.
NiYA, launched by the President, aims to empower Nigerian youth by unlocking their potential for job creation and wealth generation. It functions as a digital platform connecting young Nigerians, both domestically and abroad, to showcase their talents, gain valuable skills, and find employment opportunities aligned with their aspirations.
With the motto “one youth, two skills, one local government, one product,” NiYA strives to equip seven million youths with transformative skills. The initiative offers online courses, job fairs, and access to resources and funding. The Ministry also collaborates with relevant agencies specializing in skills development and empowerment to achieve its goals.
NDIC’s Managing Director/CEO, Mr. Bello Hassan, represented by Executive Director (Operations), Mr. Mustapha Ibrahim, welcomed the Ministry’s initiative. Mr. Ibrahim acknowledged NiYA’s potential to empower young Nigerians, fostering entrepreneurship, business activities, and wealth creation.
He emphasized that this aligns with NDIC’s objectives of promoting financial inclusion and strengthening public trust in the nation’s financial system. Ibrahim concluded by highlighting that NiYA will create an environment for Nigerian youth to thrive and contribute meaningfully to national development.
