March 21, 2016/Ecobank Nigeria
Ecobank Nigeria has stressed the need for young people to imbibe the principles of financial literacy to widen their scope and knowledge of savings and investment techniques. Deputy Managing Director, Tony Okpanachi, who gave this advice while lecturing students of Girls Secondary School Akwakuma, Owerri, last week, as part of Global Money Week celebrations, emphasized that financial awareness at an early stage in life would engender and empower the youths with the financial knowledge they require to be relevant in the global economy. He said the bank’s action is premised on the need to further the financial inclusion programme of the Central Bank of Nigeria (CBN) to young people.
Mr. Okpanachi who spoke on the topic “Growing Your Money” said it was necessary that young people imbibe the culture of savings and investment no matter how little as it is one way of securing their future.
The lecture which was basically interactive saw Mr. Opanachi taking the students through the basics of banking, particularly how to open and operate an account; types of accounts; relevance of Bank Verification Number (BVN), Automated Teller Machine (ATM); safety of funds,; how to save and invest, among others. It provided opportunity for the students to ask various questions bordering on the rudiments and operations of banking.
According to him, “This initiative is laudable. It is a great idea to catch them young and is in line with the CBN financial inclusion strategy. The high level of participation and enthusiasm shown by the students during the lecture underscores the importance of the exercise. Indeed, this programmme must be given all the support it needs to succeed.”
He further described Ecobank as a youth friendly bank through the various products targeted at meeting their needs and expectations.
Principal, Girls Secondary School (Seniour) Akwakuma, Mrs.Uzoho Patricia commended Ecobank for its promise to assist the school in various ways, stressing that, the training would impact positively on the students and teachers alike.
The Global Money Week is an awareness celebration that takes place every year to engage children globally in learning the concept of savings and investment. 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.
The 2016 edition took place between 14th – 20th of March and this year marks the 5th anniversary of the annual event. It aligns with the CBN Financial Literacy Day, designed as a core part of the ‘Framework for Financial Literacy in Nigeria’ aimed at ensuring financial inclusion for the unbanked.
During the period, Chief executive of financial institutions visit and teach selected students from the schools a module of a Financial Literacy curriculum specially put together by Juniour Achievement Nigeria – a non-governmental organisation focused on educating children about their economic environment.
