In honor of this year’s World Savings Day, the Nigeria Deposit Insurance Corporation (NDIC) has spread the word about financial savings to students in secondary schools in the state of Bauchi.
The purpose of the day, which is observed on October 31, according to the Corporation, which spoke with Newsmen in Bauchi at the Government Comprehensive Day Secondary School, Bakari Dukku, is to educate people about the benefits of saving money in the bank.
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The NDIC’s Zonal Controller, Ajiya Bah Zarma, advised the younger generation to imitate the “20:10:70” model of saving while delivering a presentation titled, “Savings Prepare You for a Better Future.”
The approach recommends saving 20% of your money, contributing 10% to charity, and spending 70% on yourself, he said.
He said that the NDIC has begun remodeling 21 classroom blocks at the school to improve the learning environment for the pupils.
“World Savings Day is a yearly event that the Bankers’ Committee created to raise awareness of the importance of saving.
About 21 classes are being renovation. Before now, if you saw this school, it would almost make you cry because of how run-down it was. But we are intervening, and this is a part of it. We can only do what we can to support pupils, especially female ones.
“We want to catch kids young, which is why we brought the program to this school.
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“There are many benefits when you instill the habit of saving among children,” she stated.
