Financial literacy has been
described as a strong catalyst to financial inclusion and wealth creation that
will aid the nation’s economic growth.
This was the submission
of Mrs. Mary Akpobome, Executive Director, Heritage Bank Limited, in her
opening remarks, at the Financial Literacy Day Programme organised by the
bank at the University of Ilorin Secondary School, Ilorin, Kwara State last
Thursday.
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Akpobome, who was
represented by Mrs. Moji Niran – Oladunni, Divisional Head, Public Sector,
Heritage Bank, explained that the Bank’s Financial Literacy Programme is a
platform to help children and young adults establish a positive relationship
with money.
The Financial Literacy
programme, she added, is a key enabler to the achievement of financial
inclusion that will sustain economic growth and development in the country.
“At Heritage Bank, the
importance of financial inclusion for the youth cannot be over-emphasized. The
youth represents a vital force for socio-economic development and hence, the
need to begin to work with young people through educational institutions. As a
bank, we are here to grow with you and see you create wealth, preserve and
transfer wealth across generations. This must begin with being financially
literate,” she said.
Addressing the students,
Miss Zuriel Oduwole, the education advocate teenager and Heritage Bank’s
Financial Literacy Ambassador, noted that financial literacy is about how to
earn money and preserve it for the future. Oduwole, who had held meetings with
more than 18 Presidents and Prime Ministers on youth and education, averred
that education is not only about passing subjects like Chemistry, Biology or
Economics, but about learning new things that will help the learner in the
future.
Earlier, the Principal
of the school, Mrs. Nike Jaiyeola thanked Heritage Bank and the CBN for the
initiative and described the programme as a valuable contribution to the life
of the youth. “The youth are the most vulnerable group to make wrong financial
decision, but with this programme now, the danger can be averted when it is
time to make quality decision about finances and the future,” she said.
Some of the topics
discussed at the programme ranged from banks, money, Bank Verification Number,
BVN, the naira and devaluation. As part of the programme, the bank donated
volumes of books on money and finance to the school.
As a key implementation
priority of the Financial Inclusion Strategy, the Central Bank of Nigeria
developed a Financial Literacy Framework (FLF) in January, 2013. The document
articulates a strategic direction for a multi stakeholder approach to the
delivery of financial education programmes across various target groups of the
population in Nigeria.
Consequently, as part of
the Global Money Week celebration, the Bankers’ Committee designated March 13
every year as Financial Literacy Day. 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.
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