The Nigeria Deposit Insurance Corporation (NDIC) has called on Nigerian youths to steer clear of cybercrime and commit themselves to honest and productive ventures as a pathway to a secure future.
NDIC Port Harcourt Zonal Controller, Mr Adefemi Shaba, issued the warning on Friday while addressing over 300 students during the 2025 Financial Literacy Day event held at Community Secondary School, Okoro-Nu-Odo, Rumuagholu, in Obio/Akpor Local Government Area of Rivers State.
Themed “Think Before You Follow, Wish Money for Tomorrow,” the event aimed to instil financial discipline and ethical conduct among young Nigerians.
Shaba underscored the dangers of the get-rich-quick mentality, advising students to focus on meaningful pursuits that build lasting value. He described cybercrime and similar illegal means of making money as destructive and counterproductive.
He explained that the NDIC, working alongside the Central Bank of Nigeria (CBN), is responsible for safeguarding depositors’ funds, promoting financial system stability, and ensuring sound banking practices.
“NDIC’s mandate includes guaranteeing deposit liabilities, maintaining confidence in the banking system, and supporting efficient payment mechanisms. That is why we are here—to educate students on managing money, the importance of saving, and how to invest for the future,” Shaba said.
Also speaking, Mr Alfred Ijah, Senior Manager in the NDIC’s Communication and Public Affairs Department, identified a lack of financial literacy as one of the major setbacks in Nigeria’s economic landscape.
He advised the students to embrace legitimate work, make informed spending decisions, and develop responsible financial habits.
“It is vital to cultivate saving behaviour, invest sensibly, spend wisely, and extend help where needed. Money obtained through cyber fraud, theft, or gambling is not only illegal but unstable and hard to sustain,” Ijah cautioned.
Representing the Rivers State Government, Assistant Director at the Ministry of Education, Mr Peter Njoku, praised the NDIC for choosing Rivers to host the Financial Literacy Day.
Njoku stressed the importance of equipping young people with the financial knowledge necessary to plan for the long term and make sound life decisions.
He appealed to students to apply what they had learned, describing cybercrime as no different from stealing or armed robbery.
“Youths involved in internet fraud need proper moral redirection. If they continue on this path, it will lead to destruction, robbing them of a promising future,” Njoku said.
