NDIC warns Delta students against “Yahoo Yahoo,” promotes financial literacy

The Nigeria Deposit Insurance Corporation has sensitised students of Osadennis Mixed Secondary School, Asaba, Delta State, on financial literacy, urging them to avoid internet-related fraud, commonly known as “Yahoo Yahoo.”

Speaking at the 2025 Financial Literacy Day event held on Thursday at the school compound, the Benin Zonal Controller of NDIC, Mrs. Patricia Okosu, warned against the dangers of the “get-rich-quick” mentality, especially among youths.

“Cybercrime, ‘Yahoo Yahoo,’ and other illegal means of getting money are inimical to progress.

“It is very important that students understand the difference between needs and wants, as well as key policies and operations of the Central Bank of Nigeria (CBN), including electronic transactions,” Okosu cautioned.

She emphasised that educating students on financial literacy is part of NDIC’s corporate social responsibility, aimed at equipping them with essential financial management skills.

Speaking on the theme of the event, “Think Before You Follow, Wise Money Tomorrow,” Okosu noted its relevance in today’s economic climate.

“NDIC is an agency of the Federal Government, with the CBN and the Federal Ministry of Finance holding its shares in a 60-40 percent ratio.

“We collaborate with the CBN to monitor and supervise banks, ensuring they operate safely to protect depositors, foster monetary stability, and promote an efficient payment system,” she explained.

Also speaking at the event, Delta State Commissioner for Secondary Education, Mrs. Rose Ezewu, commended NDIC for its commitment to promoting financial literacy among students.

Represented by Deputy Director in the ministry, Mrs. Justina Ishalaa, Ezewu noted that the initiative aligns with the state government’s efforts to equip students with the knowledge and skills necessary to navigate the complexities of the modern economy.

She encouraged students to seize the opportunity to learn from financial experts and gain valuable insights into responsible money management.

“The theme of this year’s Financial Literacy Day is particularly relevant, as it underscores the importance of prudent financial decision-making, especially among the youth,” the commissioner added.

The event highlighted the importance of financial education in shaping a responsible and economically informed generation.