As the world celebrates this year’s edition of World Savings Day, the Nigeria Deposit Insurance Corporation (NDIC), a federal government financial agency, on Wednesday alleviated the fears of those who deposited their money at the liquidated Heritage Bank, stating that in due course, all depositors will receive their funds.

The Benin Zonal Controller, Mrs. Patricia Okosun, made this announcement at the World Savings Day celebration held at Government Model Secondary School in Asaba, Delta State.

According to Mrs. Okosun, at least 80 per cent of those who deposited money at the liquidated Heritage Bank have been “settled.”

She said, “We are still paying; the accounts are being processed. We have valued some and sold some. But I cannot give the exact figure paid because we are still paying those with N5m and below.”

The Zonal Controller expressed surprise over the lack of cash at various commercial banks’ ATM withdrawal machines.

She noted that commercial banks usually go to the Central Bank of Nigeria (CBN) to collect money for their depositors to withdraw at least N20,000, but it is increasingly difficult to find money at the ATM withdrawal machines these days.

In response to this issue, she said the CBN is currently monitoring banks to ensure that every ATM has at least N20,000 available for each depositor.

For the Commissioner for Secondary Education, Mrs. Rose Ezewu, the role of financial education must be recognized, as it is critical to shaping Nigeria’s economic future.

The Commissioner, represented by the Education Officer at Oshimili South Field Office, Dr. Collins Okwunue, stressed the need to equip students with sound financial knowledge to help them make informed decisions and secure their economic futures.

With the theme “Act of Humanity,” she said the event resonates with the shared goal of promoting financial literacy, bridging economic disparities, fostering responsible money management, and creating a financially inclusive society.

The Commissioner commended NDIC and the Bankers Committee for promoting financial literacy among the youth, believing their efforts will equip them with essential skills to manage finances effectively and contribute to Nigeria’s economic growth.

She urged the students to embrace financial literacy to become financially conscious citizens.

Also speaking, the Principal of Government Model Secondary School, Asaba, Dr Obiajulu Eboka, encouraged the students to listen attentively to enrich their financial knowledge, as hosting the event at their school provided them with an opportunity to learn and be properly informed.