Yesterday, Tuesday, March 17, 2015, marked the end of Global Money Week, an annual global celebration that organised nationally and coordinated by Child and Youth Finance International (CYFI.)
Global Money Week provides a platform for multi-sectorial national stakeholders to collaborate, many for the first time, on developing financial education, developing inclusion initiatives and policies, and engaging children and youth in their countries.
In recognition of the role financial literacy plays in the Nigerian economy, most deposit money banks’ directors keyed into this programme as they visited and educated children and youths on money issues.
Nnamdi Okonkwo, managing director/CEO, Fidelity Bank plc, said it would not relent in its efforts to promote financial literacy among youths as part of the bank’s commitment towards deepening the economy. Towards this end, the bank has expressed its readiness to partner the Central Bank of Nigeria (CBN) to introduce financial literacy as a subject in schools’ curriculum across the country.
Okonkwo said this at the weekend while speaking with the press at the Financial Literacy Day programme organised by the bank in conjunction with the Junior Achievers, Nigeria for the students of Day Waterman College Abeokuta, Ogun State.
Okonkwo, who was represented by Adeboye Ogunmolade, chief compliance officer, Fidelity Bank, commended the CBN for mobilising stakeholders towards ensuring that financial literacy became part of the curriculum of schools in the country and assured the regulatory agency that the bank would make its input in making the project a reality.
To this end, and on behalf of the CBN, Sarah Alade, deputy governor, last week Thursday, engaged students of Model Secondary School, Maitama, Abuja, on financial literacy on the occasion of the Global Money Week.
And as part of activities marking this year’s celebration also, Union Bank of Nigeria plc, announced its adoption of Uyo High School, Oron Road, Uyo, Akwa Ibom State. The adoption is in furtherance of a wider Bankers’ Committee initiative to promote Financial Inclusion in Nigeria by providing financial education to schools across the country.
“Union Bank remains firmly committed to the achievement of Financial Inclusion in Nigeria, and we recognise that Financial Literacy is a key step in achieving this,” said Emeka Emuwa, group managing director of Union Bank, and chairman of the Financial Literacy and Public Enlightenment Sub-Committee of the Bankers’ Committee.
“In addition, we believe in making investments that empower, build and support the development of Nigeria’s large youth population. Providing our young ones with a proper financial education will enable them to make sound financial decisions and become good stewards of resources in the future,” Emuwa said further.
During the visit, Emuwa taught a number of the students a lesson on “Growing Your Money.” The lesson was taken from a special Financial Literacy Curriculum developed by Junior Achievement Nigeria – a non-profit organiation focused on educating children about their economic environment – and covered topics on savings, investments and protecting one’s money.
Global Money Week is a worldwide money awareness celebration from March 9 to 17, 2015. The initiative is aimed at globally engaging children on aspects of financial education. The Bankers’ Committee in Nigeria designated March 12, as Financial Literacy Day 2015. The day is being marked to focus attention on children and youth in primary and secondary schools nationwide and to empower them by enhancing their financial knowledge and planning skills.
In 2014 Nigeria money week, the CBN held a huge Financial Literacy roadshow, with brightly dressed school students walking several kilometres alongside staff members of the Consumer Protection Development Unit and SAGE in order to create public awareness about Global Money Week. There was also a Financial Literacy Exhibition where several banks participated and showcased their banking products to the youth. A financial mentoring and out-reach programme was held across the country. To wrap up the celebration, the bank staff paid a visit to Daughters of Abraham Foundation, a centre where former sex workers and abused young women are rehabilitated and trained on various entrepreneurial and livelihood skills.
The week was also jam-packed with fun, as Access Bank led activities such as “The Day at the Exchange,” where the Nigerian Stock Exchange (NSE) invited 150 students who were given a tour and a talk at the exchange, and a student was then picked to ring the bell.
Also, there was a workshop for 100 students, parents and 20 teachers on the role that they and the bank play in ensuring children are raised to be financially confident and responsible, and the Bank-to-School initiative that promoted the financial inclusion and literacy of children and youth, was encouraged.
The Youth and School Banking Team of Diamond Bank plc also put together a series of activities such as school financial mentoring and outreach programme, Bank Open Days, where branches were made child and youth friendly to encourage the youngsters to visit, ask questions and open savings accounts.
HOPE MOSES-ASHIKE
