The Nigerian Educational Research and Development Council (NERDC) in collaboration with the Central Bank of Nigeria (CBN) plans to launch the Financial Education Curriculum (FEC) during the next academic session.
The pilot testing of the project which started in 2016 has commenced with a training workshop for teachers on the financial issues infused into the school curricula, to enable them participate effectively in the pilot study. NERDC, in collaboration with CBN, organised the workshop in Lagos.
The aims of the Financial Education Curriculum, among others, are to create awareness on the issue of financial management, develop in learners, the ability to plan resources, develop entrepreneurial skills among the teeming youth of Nigeria, generally promote the building of the set of skills and knowledge that allows an individual to make informed and effective decisions in matters that relate to finance and financial resources.
“I am confident that the completion of this project and implementation of FEC would prepare Nigerian youths for the challenges of contributing towards sustainable economic development of Nigeria”, Yinka Ahmed, acting director, consumer protection department, CBN said at the workshop.
Ahmed was optimistic that the dearth of knowledge and skills required by consumers to understand financial concepts, manage their personal financial matters to enhance their economic well-being and ultimately engender trust amongst them in the financial system which has bedevilled the country over the years would be addressed through the implementation of the FEC.
“I am indeed confident that our FEC shall be a reference point for many other climes”, Ahmed who was represented by Ademola Atanda, said.
NERDC in partnership with the CBN and other financial institutions developed a stand-alone FEC, which was infused into the curricula of the relevant carrier subjects at the Basic and Senior Secondary Education levels. Teachers’ Guides were also developed for its implementation.
At the Basic Education level, FEC was infused into: English Studies, National Values (Civic Education, Social Studies and Security Education) and Business Studies. At the Senior Secondary level, it was infused into: English Language, Commerce, Economics, Financial Accounting and Civic Education.
In his welcome address, Ismail Junaidu executive secretary, NERDC, said the next stage of the exercise is the implementation of Financial Education in schools across the country. As part of the implementation measure, a pilot study of the document is paramount. In view of this, teachers in the carrier subject areas need to be exposed to the contents of the curricula.
He explained that the pilot study is meant for a few teachers and a few schools. This, he said is to determine the appropriateness of the curriculum and the Teachers’ Guides for Nigerian schools and the society at large.
“It is therefore important for the participating teachers to understand the content and the laid down teaching methods so that they will be able to implement the curriculum and determine the short-comings, if any. The feedback received from the field will further help to modify the curriculum and the Teachers’ Guides before they are finally rolled out for use in schools”, Junaidu added.
