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CBN, Polaris Bank Move Financial Literacy to Schools

Payment System Management

To boost level of financial literacy in the country, the Central Bank of Nigeria and Polaris Bank has taken a financial literacy programme to secondary schools in the Federal Capital Territory and Jos, calling on the pupils to imbibe the savings culture.

The apex bank also educated school children about money, saving, creating livelihoods and becoming entrepreneurs. The CBN Deputy Governor, Financial System Stability, Mrs Aisha Ahmad, led some CBN directors to some schools within Abuja metropolis as part of activities to mark the Global Money week.

The schools visited were the Government Secondary School, Wuse Zone 3 and the Staff Community Secondary School, Asokoro.

Ahmad, while interacting with the students, conveyed key messages on how to manage their money wisely, save and invest for their future.

She also spoke to the pupils on the benefits of budgeting, which she said would help them to have control over finances, help to build assets and create a healthy financial situation.

“Budgeting is about choices. Choose what to save for the future, what to spend now and what to spend on. Needs first, wants later,” she said.

On his part, the Managing Director/Chief Executive Officer, Polaris Bank, Mr Tokunbo Abiru, while addressing   the pupils of Government Secondary School in Tudun Wada area of Jos, stressed the need for the secondary school pupils in Nigeria to imbibe the culture of saving money to enable them to secure their future.

Expressing concern at the negative consequences of  low savings’ culture in the country, he noted that some adult citizens did not have any savings or financial investment.

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Abiru assured that Polaris Bank would continue to sustain efforts aimed at promoting financial literacy among secondary school pupils in particular and Nigerians in general.

He said, “We have issues relating to finance, which people do not know anything about. An attitude of not saving money is not good for the future. We need to learn, save and earn money. You do not save after spending but rather, you save first before spending. The idea is to catch them young in terms of educating them on finance and financial investment so that in future, their personal and financial lives can be guaranteed. To achieve this, we need to imbibe the culture of saving, no matter how small”

Abiru, who was represented at the event by the bank’s Group Head, North -East Zone, Mr Olayinka Obikanye, urged the pupils to pass the message to their friends and other family members.