By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-Wema Bank Plc Thursday announced it has advised students on financial literacy as part of activities to mark the 2014 global money week.
A statement by Mari-Goretti Ani, brand & marketing communications of the bank and made available to InvestAdvocate said in partnership with the central bank of Nigeria (CBN), Wema Bank adopted the Maryland Convent Primary School, Ikeja, Lagos for its child & youth financial empowerment initiative.
According to the bank, the child & youth financial empowerment initiative was sponsored by Royal Kiddies Account a product of Wema Bank.
The Royal Kiddies Account initiative, the bank says involves teaching young people how to save, plan and invest their money to ensure financial freedom in future.
Segun Oloketuyi, managing director (MD) of Wema Bank in his presentation on financial literacy to students of Maryland Convent Primary School said it’s the responsibility of the larger society and not just the family alone, to teach and mentor young people on the right way to live by showing them how to save and manage their resources, ‘’doing so will help create the right environment for a secure future for the children, communities and the nation as a whole,’’ he said.
On her part, reverend sister Gladys Osagie, head teacher of Maryland Convent Primary School, thanked the bank for bringing the financial literacy initiative to the school. ‘’The initiative would go a long way into moulding the character of our pupils,’’ sister Osagie said.
As part of the Global Money Week celebration, Wema Bank presented financial literacy materials to the school library on behalf of the CBN.
The Royal Kiddies Account from Wema Bank is open to young people from ages 0 to 13years; whilst Purple Account is targeted at young adults from ages 13 – 24 years.
According to the bank, Royal Kiddies Account offers life assurance as much as 10 times the account balance subject to a maximum of N10 million in case of accidental death or permanent disability of the parent or account administrator.
The bank further affirmed that the Royal Kiddies Account holder is also eligible for an e-purse electronic wallet. ‘’On the other hand, the Purple Account gives its holder access to various electronic and mobile banking platforms as well as other opportunities tailored to their needs,’’ the bank said.
Global Money Week is a worldwide celebration to empower future generation to be confident, responsible and skilled economic citizens.
On a yearly basis, and in the second week of March, young people around the world meet to discuss, read, analyze, sing and learn about savings, money, changing economic systems and how to build a financial future.
The Global Money Week initiative is coordinated by the child and youth finance international secretariat.
