The Nigeria Deposit Insurance Corporation (NDIC) has launched a targeted campaign to protect traders and transport workers from financial fraudsters and illegal fund managers.
Speaking at the Nyanya Market in Abuja, NDIC Assistant Director, Corporate Communications and Public Affairs, Mr. Adegbenga Fabuyi, said the outreach was designed to tackle ignorance and misinformation among small business operators in the informal sector.
Fabuyi noted that many traders and transport workers remain vulnerable to fake money lenders and illegal cooperative schemes due to limited awareness of NDIC’s deposit protection mandate.
He explained that the Corporation adopted focus group discussions to complement its media campaigns for direct engagement and feedback.
“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.
NDIC Head of Communication and Public Affairs, Mrs. Hawwau Gambo, said the initiative is part of a pilot scheme to build trust in the financial system and help Nigerians reclaim unclaimed deposits from failed banks.
“The goal is to promote financial inclusion and restore confidence in the banking system by meeting people where they are — in their own workspaces,” she added.
The Nyanya engagement follows similar sessions at Wuse and Apo markets in Abuja as NDIC intensifies efforts to deepen public understanding of deposit protection nationwide.
Reporting by Sherifat Oyediran