The Nigeria Deposit Insurance Corporation (NDIC) has stepped up its grassroots sensitisation campaign to protect traders and transport workers from falling prey to fraudulent savings schemes and illegal fund managers.
Speaking during a focus group discussion with members of the Road Transport Employers Association of Nigeria (RTEAN) and the National Union of Road Transport Workers (NURTW) at the Nyanya Market in Abuja on Tuesday, NDIC Assistant Director of Corporate Communications and Public Affairs, Mr. Adegbenga Fabuyi, said the initiative was designed to tackle ignorance and misinformation among informal sector operators.
Fabuyi explained that many small business owners and transport workers remain vulnerable to fraudulent financial schemes because they lack awareness of the protection available through the NDIC.
“Most of them do not know they are protected by the NDIC. They are often targets for illegal fund managers and fraudulent savings schemes because they are less sophisticated. So we have to be deliberate in sensitising them,” he said.
He noted that the Corporation adopted the focus group discussion method to complement its mass media campaigns, enabling direct interaction and feedback from participants.
“Mass media can only pass information; it cannot drill down or give feedback. That is why we combine it with interpersonal engagement, which gives us a better understanding of people’s experiences and concerns,” he added.
Fabuyi also revealed that the sensitisation efforts are being extended beyond the informal sector to include professionals and educated Nigerians who may not fully understand how deposit insurance works.
“You would be surprised that even bank workers, lecturers, lawyers and judges do not fully understand deposit insurance. So we are engaging all groups across the country,” he said.
In her remarks, NDIC’s Head of Communication and Public Affairs, Mrs. Hawwau Gambo, described the outreach as part of a pilot initiative targeting groups often excluded from formal financial literacy programmes.
According to her, the campaign aims not only to build trust in the financial system but also to help Nigerians recover unclaimed deposits from failed banks.
“Beyond creating awareness, we are also here to identify people who may have unclaimed deposits in failed banks and ensure they are reconnected with their funds. It is about financial inclusion and trust-building,” Gambo said.
She added that the Corporation plans to assess the outcome of the pilot phase before expanding the programme nationwide.
The Nyanya session follows similar engagements at Wuse and Apo markets in Abuja, as part of NDIC’s ongoing efforts to deepen public understanding of deposit protection and strengthen financial inclusion across the country.
