The Nigeria Deposit Insurance Corporation has donated 50,000 copies of the booklet on Basic Knowledge on Banking to states’ Commissioners of Education for onward distribution to junior secondary schools in the six geo - Political zones of the country.

The booklet titled: Basic Knowledge on Banking written in simple and easy to read English are being distributed to junior secondary schools in the country as part of the efforts by the Corporation to enhance the knowledge of the general public on basic banking and financial services.

While presenting copies of the booklet to Yobe State Ministry of Education, the NDIC Managing Director/Chief Executive, Umaru Ibrahim, said the students of junior secondary schools were the target beneficiaries of the booklets in order to catch them young in understanding the principles and practice of banking.

Umaru Ibrahim further said that the booklet covered important issues in banking, which according to him included the definition of banking, types of financial institutions: reasons why depositors should keep their money in banks; different types of bank accounts; what people need to know when choosing which banks to open accounts in; and basic banking terms.

The NDIC CEO added that the Corporation has been engaged in other public awareness programmes which were aimed at enhancing financial literacy among average bank depositors.