The Nigeria Deposit Insurance Corporation (NDIC) has intensified its grassroots sensitization campaign aimed at protecting traders and transport workers from falling victim to fraudulent savings schemes and illegal fund managers.

Speaking on Tuesday at the Nyanya Market in Abuja 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), 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.

He explained that many small traders and transport workers remain vulnerable to fake money lenders and illegal cooperative schemes because they are unaware of the protections available to them through the NDIC.

He added that the Corporation adopted the focus group discussion approach to complement its mass media campaigns, allowing direct engagement and feedback from participants.

“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 sensitizing them.

“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 better understanding of people’s experiences and concerns,” he said.

Fabuyi also noted that the sensitization efforts are being extended beyond transport workers and traders 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 added.

Also speaking, NDIC Head of Communication and Public Affairs, Mrs. Hawwau Gambo, said the outreach is part of a pilot scheme targeting groups often left out of formal financial literacy programmes.

Gambo said the initiative aims to build trust in the financial system and help Nigerians reclaim 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.

“By meeting people where they are, in their own workspaces, we can clear doubts, answer questions directly, and build confidence in the banking system,” the Spokesperson stated.

She noted that the Corporation would evaluate the outcome of the pilot phase before expanding the programme nationwide.

The Nyanya engagement follows similar sessions held at Wuse and Apo markets in Abuja, as part of NDIC’s efforts to deepen public understanding of deposit protection and promote financial inclusion across the country. (The Sun)