Youth Devt Minister Lauds NDIC For Depositor Protection

The Minister of State for Youth Development, Mr. Ayodele Olawande, has commended the Nigeria Deposit Insurance Corporation, NDIC, for its significant achievements in safeguarding depositors from the adverse impacts of bank failures.

He praised NDIC for consistently supporting the Central Bank of Nigeria in overseeing the banking sector and contributing to the stability of the nation’s financial system.

The Minister gave the commendation during a courtesy visit to the Management of the Corporation in Abuja.

Mr. Olawande 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 youths and the unbanked population in rural areas through the Ministry’s Nigerian Youth Academy, NiYA, initiative as a veritable tool for financial inclusion.

He explained that NiYA is a response to the Presidential mandate to the ministry aimed at unleashing the creative potential of Nigerian youths for employment generation and wealth creation.

Mr. Olawande described NiYA as a digital marketplace connecting Nigerian youths, both domestically and in the diaspora, to showcase their creativity, acquire relevant skills, and secure employment opportunities aligned with their life ambitions.

With the slogan “one youth, two skills, one local government, one product,” the minister stressed that the initiative aims to empower seven million youths with transformative skills, by featuring components such as online classes, job fairs, and access to resources and funding.

In his response, the Managing Director/Chief Executive of the Corporation, Mr. Bello Hassan, who was represented by the Executive Director Operations, Mr. Mustapha Ibrahim, commended the ministry for the initiative.

Mr. Ibrahim highlighted NiYA’s potential to enhance capacity building and empower Nigerian youths, fostering business activities, entrepreneurship, and wealth creation.

He noted that this aligns with NDIC’s objectives of promoting financial inclusion and strengthening public confidence in the nation’s financial system, emphasising that the initiative would create an enabling environment for Nigerian youths to thrive and contribute meaningfully to the nation’s development.

Umbwanko Baba, Edited By Grace Namiji