A lot of people were born with poverty but after some strategic efforts, they got financial freedom. While some others who were born into riches and affluence but failed to take certain strategic decisions about their life end up going into poverty.
What this message is saying is that financial freedom is open to everybody irrespective of your past or present situation and that there is no limit to financial freedom if the right decisions are taken.
Mayowa Adeduro, managing director/CEO, Anchor Insurance Plc speaking at the 2017 Edition of Lagos Money Conference organised by Good Treasure Youths and Teenagers Development Centre in Lagos narrated a personal life story that captures the fact that environment or background is not enough to limit anybody from moving forward or reaching financial freedom.
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“My story is to challenge youths to be ready to do any ‘menial’ job to lift their selves out of poverty.”
Adeduro speaking on the theme “Uncommon Strategies for Financial Inclusion’ shares the story of his life and lessons for today’s youths in part…,
“I grew up not knowing how to differentiate poverty and well being. I had a father who happened to be XL polygamous if there is anything like that. He made us see the wealth so that we the children can be proud to say our father is rich but guess what? we had no access to good schools, hospital, electricity etc. We used to feed on starch many times daily. Thank God for the plenty of vegetable and fruits in the villages those days. Now you are on your own if your mother cannot fend for you from the farmlands and crops provided by my father. He had distributed farmlands to the wives for their upkeep and their children. Today, I always thank God that he approved my plan for my life against poverty. When I finished from the University of Lagos (by the way I paid my school fees through the clerical work I was engaged in), I had to join an evening school teaching crew in today’s Broad Street, around CMS inter-change to fend for myself pending National Youth Service. My story is to challenge youths to be ready to do any “menial” job to lift themselves out of poverty.
You need between N20, 000 to N50, 000 to register a corporate organization with the Corporate Affairs Commission (CAC) today. This is a minimum requirement on your road to financial inclusion. Secondly, Information and communication technology advancement has made certain things we struggled to achieve in those days effortlessly now. Less than a decade ago, if you want to open a corporate account you need to have a minimum N100, 000 and many documents, today you can do that on your smartphone handset. In my present company, we have empowered over 1000 youths through technology to sell some of our products. It is heartwarming for me to see some of them buying cars, rent decent apartments, got married and even engaged staff and now have become employers of labour.
As youths, we need a shift in our paradigm through unlearning old belief and learning new things. It is an old thing to say I will rather sit at home than to be a school teacher. It is an old thing so say I cannot be a caregiver. Between 2001 and 2003 I was a bloody banking officer whose assignments include coming to office first thing every working day, before others and ensure all toilets water closets were working fine, all air-conditioners and motor vehicles were in-order. I must also ensure the guest’s houses and executive management houses are in good conditions. Now was I banking officer or a caregiver?. Today this is a part of my life history. In 2001 one of the persons referred to as among richest oil magnates in Nigeria and among 10 Nigerians capable of eradicating poverty in the country used to go around banks looking for local Purchase Order (LPO) to supply diesel. I don’t think he is worth more than two-digit million Naira then. Why not you and why not me.? Can’t we become the reference in the next 5 years. I am sure we all have listened or read the “tokunbo” story of our dear Vice President. For sure we are in a country of limitless opportunities. We stand an almost equal chance of becoming somebody tomorrow. If Vice President “tokunbo” story can be changed, mine is changing and yours will definitely be changed by the grace of God.”
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Adeduro speaking earlier said the theme of this year event “Uncommon Strategies for Financial Inclusion” is indeed very apt and topical. “Humiliation” and “Exclusion” has been at the forefront of poverty incubation all over the world. The population of people living below the poverty line has reached an all-time threshold of 1 billion people. And guess what? a whopping 12 percent of world poor lives among a population of 170 million Nigerians. 112 million Nigerians are living below the poverty line. It is estimated that close to 70 percent of Nigerians are poor. This is really an embarrassment for a nation endowed by Almighty God with so many natural resources, good weather and fertile land.
According to Guy Ryder, the Director-General of International Labour Organization (ILO), “poverty robs individuals of their dignity, increases vulnerability to hunger, physical and mental illnesses, human right abuses and exclusion” little wonder we are experiencing an unprecedented high rate of violent crimes in Nigeria.
The financial exclusion which can broadly be defined to mean lack of access to financial opportunities including financial information is a leading cause of poverty in developing countries.
Modestus Anaesoronye
