The Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria, on October 31, 2019 joined the rest of the world to commemorate the World Savings Day.
Themed “Savings Give Life a Lift”, the engagement events across 565 local governments and reached over 80,809 students in 642 schools to increase public awareness and empower them with information on the importance of building a good savings culture, both for their financial future, as well as encouraging a sense of discipline and planning.
This initiative also encompasses the CBN and the Bankers’ Committee’s drive to bridge financial literacy and inclusion, particularly for children in Nigeria. As part of activities marking the 2019 World Savings Day, bank Chief Executives and their employees visited schools across the country to tutor and mentor students and youths on the transformative power of imbibing a good savings culture.
Speaking on the initiative, Mr. Emeka Emuwa, Chairman, Financial Literacy and Public Enlightenment Sub-Committee (FLPE), said;
“The importance of educating young Nigerians on the benefits of a good savings culture cannot be overemphasized. We are proud to see the financial institutions in Nigeria take up the task of mentoring, educating, and empowering young Nigerians with critical information on building a savings culture, and increasing awareness on the importance of earning, managing and saving money in order to have a secure future.
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“Many of these students are our future Bankers and as such we will continue to develop programmes and activities that will further empower them.”
Financial inclusion is a constituent pillar of the Bankers’ Committee mandate, making initiatives like this critical to the goal of increasing the number of financially included citizens in the country.
The World Savings Day is observed annually across the globe to raise awareness on the importance of building a good savings culture, aimed squarely at ensuring the next generation is empowered with important financial awareness and literacy, needed to enhance economic prosperity and continue to improve poverty reduction.