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NDIC Reiterates Commitment to Tap Savings Culture of Unbanked Poor

Nigeria Deposit Insurance Corporation (NIDC) has said that it remains committed to tap savings culture of unbanked active poor Nigerians in order to improve their financial inclusion and accelerate investment growth in the nation’s economy.
Mr. Olatayo Babatolu, the Director, NIDC Bank Examination Department, made the remarks in Ilorin, Kwara state capital over the weekend during the Financial Literacy Day Workshop to mark 2021 Global Money Week for over 100 students across Secondary schools in Ilorin held at Government Day Secondary School, Maraba, Ilorin, the state capital.
According to him, “Financial Literacy event is all about getting our young adults especially those in secondary schools across the 36 states of the federation and FCT, Abuja and as it is presently holding in Ilorin, Kwara state capital to enlist them to understand the essence of managing their financial well being and tranfered exposures to their fellow students in their schools”
He said, “This financial literacy programme which started in March this year was a nationwide event and as a way to change the attitude of unbanked poor Nigerians on how to keep their money safely, protect and make use of it wisely for investment development’.
Babatolu who decried the unhealthy keeping of nation’s money by some poor Nigerians said that, the workshop provided the chance to educate young youths on how to keep their money safe at designated banks instead of keeping it in an unsecured environment that can be stolen or mutilated by termites.
He opined that, “the idea is to change the attitude of our local people in keeping their money in an unsafe environment by making use of our students in various schools of the federation to pass the information to their colleagues and at the end to their immediate families in various towns and villages across the nation.”
Represented at the event by the Assistant Director of the Bank Examination department of the corporation, Mr. Roberts Ekenwa, Mr. Babatolu added that, “the desire of the NIDC is to derive financial inclusion of the students and the entire people of the country especially those in rural areas to the financial system in order to take advantage of the benefits that are available in the financial system to boost their business growth”.
He stressed that, apart from this, “it will also promote savings culture, financial products and to ensure that they appreciate the safety that is available in keeping their financial resources in the nation for investment derive opportunities”
While calling the students to take advantage of the educative event by having a changing of attitude of properly keeping their money in a safer place in the bank rather than keeping it in an unsaved place, Mr. Babatolu however advised them to transfer the knowledge gathered at the seminar to their fellow students so as to involve themselves in the financial inclusion of the economy.
Also speaking, Saadatu Modibbo- Kawu, the state commissioner for Education and Human Capital Development, lauded the NIDC for bringing the financial literacy workshop to youths in the secondary schools in the state.
She said, “Let me use this medium to express my utmost appreciations to NDIC for bringing this memorable programme to our youth in Secondary schools.
This is a remarkable way to collaborate with the Government of Kwara state and it will go a long way in complementing the effort of the state governor who has been providing a good conducive learning environment for both teachers and students in the state.
Modibbo also enjoyed the students to listen attentively to all the papers that would be presented for their future benefits.
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Anambra Shines in 2025 E-Governance Rankings, Setting National Standards

Anambra State has once again demonstrated its leadership in digital transformation, emerging as one of Nigeria’s top three states in the 2025 e-Governance Report published by the Panorama CIAPS Governance Performance Index (CGPI).
According to the report — a collaborative effort between Nigerian Panorama and the Commonwealth Institute of Advanced Professional Studies (CIAPS) — Anambra ranks alongside Lagos and Enugu as the leading states in adopting and implementing e-governance practices that foster accountability, transparency, and improved service delivery.
In his remarks, Professor Anthony Kila, Director of CIAPS, emphasized the importance of e-governance in shaping how governments interact with citizens. “The centrality of e-governance allows us to assess the performance of state governments in the country. How the government treats the digital world says a lot about them,” he said.
The report evaluated states based on a comprehensive set of criteria, including website security, up-to-date content, public engagement, availability of online services, policy updates, and user accessibility. Anambra’s performance reflects the state’s deliberate investment in digital infrastructure and its commitment to leveraging technology as a tool for inclusive governance.
Reacting to the recognition, the Managing Director/CEO of the Anambra State ICT Agency, Chukwuemeka Fred Agbata, CFA, described the report as a welcome validation of the efforts being made under the leadership of Prof. Charles Chukwuma Soludo, CFR, to reposition Anambra as a liveable and prosperous smart mega-city.
“This is not just about being tech-savvy,” Agbata said. “It’s about using digital tools to create real impact — making the government more accessible, responsive, and transparent. Anambra is building a digital future that works for everyone.”
The CGPI Report recommended that all states intensify efforts to train public servants, maintain digital platforms effectively, and build user-friendly systems that keep citizens informed and empowered. For Anambra, this recognition serves both as a milestone and a motivation to scale new heights.
As the journey continues, Anambra remains focused on setting the pace for e-governance in Nigeria in line with the Governor’s mantra of Everything Technology & Technology Everywhere.
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SERAP Urges National Assembly to Reject Tinubu’s $24Bn Loan Request Over Debt Concerns

Socio-Economic Rights and Accountability Project (SERAP) has urged the National Assembly to reject the Tinubu administration’s request to borrow $24 billion, warning that the move would significantly deepen Nigeria’s debt crisis.
In a statement posted on its official X account, the advocacy group warned that the proposed borrowing would raise Nigeria’s total debt stock to an estimated ₦183 trillion—an amount it described as “clearly not sustainable and not in the public interest.”
“The National Assembly must immediately refuse to approve the Tinubu administration’s request to borrow $24 billion,” the group said. “The growing national debt is not sustainable and not in the public interest.”
SERAP expressed concern over the heavy burden of debt servicing, which it said is already consuming a substantial portion of government revenue, leaving little room for critical public investment.
Nigeria’s total public debt is projected to surpass ₦180 trillion following the president’s latest loan request. The borrowing plan includes a proposal for over $21.5 billion in external loans, which equates to ₦33.39 trillion at the official exchange rate of ₦1,590 per dollar. The administration is also seeking approval for a domestic bond issuance worth ₦757.9 billion to settle outstanding pension liabilities.
President Tinubu said the 2025–2026 borrowing plan targets key sectors such as infrastructure, healthcare, education, water supply, security, and employment generation. He noted that the plan is also intended to cushion the economic impact of fuel subsidy removal.
The total loan request comprises $21.5 billion, €2.19 billion, and 15 billion Japanese Yen, alongside a €65 million grant. Tinubu assured lawmakers that the funds would be directed toward development projects across all 36 states and the Federal Capital Territory, with emphasis on rail networks, healthcare infrastructure, and poverty alleviation programs.
On pension-related borrowing, the president explained that the proposed bond issuance is aimed at clearing backlogs under the Contributory Pension Scheme. The measure, he added, has already received approval from the Federal Executive Council and is expected to improve retirees’ welfare, restore trust in the pension system, and inject liquidity into the economy.
Nigeria’s public debt has surged in recent years, rising by 48.6% in 2024 to ₦144.66 trillion—up from ₦97.34 trillion in 2023. The Federal Government accounts for 95% of that total.
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