Two Nigerian Banks, Polaris Bank and Ecobank last week put together several activities and joined their other colleagues to mark the 2023 Global Money Week, GMW, by engaging in Financial Literacy programmes for Nigerian youths in different parts of the country.
Polaris Bank, on its own, continued a deepening of its financial advocacy role of educating and inculcating in young Nigerians the culture of savings, investment and financial awareness.
The week-long activity, which kicked off last Monday, March 20, and ended on Sunday, March 26, 2023, with the global theme, ‘Plan Your Money, Plant Your Future’.
The Financial Literacy sensitization campaign is an annual programme organized worldwide to raise awareness and sensitize students on the need to be financially independent and empowered. Employees of the Bank visited schools across the country to speak on financial literacy and allow teens and students to gain knowledge and understanding of topics such as: how money works, how someone can earn or make money as well as money management, including – planning and budgeting – and how to invest money, among others.
Polaris Bank, in partnership with the Central Bank of Nigeria and programme execution Partner, Junior Achievement of Nigeria, JAN, reached and educated over 4000 students in 37 Schools across Nigeria, including the Federal Capital Territory (FCT). The Bank’s senior officials, during the campaign, interacted with students and teachers to commemorate the GMW and donated books to the libraries of all the schools they visited.
The activities for the 2023 GMW, which is the 11th in the series were observed in all branches of Polaris Bank nationwide.
Through its numerous CSR and social investment initiatives, Polaris Bank, in addition to rolling out innovative banking products and services for customers across different strata, has demonstrated a commitment to enhancing the quality of life for Nigerians outside of its traditional function of providing financial services.
Under its own GMW programme, Ecobank Nigeria during the week also embarked on financial education for Secondary School students across the country on personal financial management including savings, budgeting, and investment.
Tutoring the students of Comprehensive School Management and Technology, New Layout, Abakaliki, Ebonyi State, Managing Director, Ecobank Nigeria, Mr. Bolaji Lawal, who was represented by the Branch Manager, Abakaliki, Mr. Chris Igili reiterated that, “Saving is the act of putting money aside for future use. There are different ways to save, like putting your money in a savings box, through savings groups, but the recommended way is in a bank account. You can save for short-term goals such as buying clothes, buying books or long-term goals such as going to university, buying a car, etc”.
Mr. Lawal further advised the students on the investment avenues such as stocks, bonds, and real estate, stating that choice of investment should align with their financial plan.
The interactive session saw the students asking questions which were promptly answered. The Ecobank Nigeria Managing Director explained to the students and staff of the school how to earn and make money, the various investment channels and the need to donate for positive social impact. He emphasized that sound financial planning guarantees a fulfilling future.
Ecobank’s programme for the GMW saw other Senior Management staff of the bank tutoring and mentoring students across several schools in major cities across the country, including Lagos, Ibadan, Abuja and Yenagoa.
Global Money Week is an annual global awareness-raising celebration initiated by Child & Youth Finance International (CYFI), with local and regional events and activities aimed at inspiring children and youths to learn about money, saving, creating livelihoods, gaining employment and becoming entrepreneurs. It is also aimed at empowering the next generation to be confident, responsible and skilled economic citizens.
The Week stresses the importance of ensuring that young people, from an early age, are financially aware and are gradually acquiring the knowledge, skills, attitudes and behaviors necessary to make sound financial decisions and ultimately achieve economic well-being and financial resilience.
Other Nigerian banks also embarked on Financial Literacy training programmes for Nigerian youths in different parts of the country.
