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The Central Bank of Nigeria (CBN), has flagged off its financial literacy campaign in secondary schools in Abuja to ensure full implementation of financial inclusion strategy in the country.
The CBN Governor, Malam Sanusi Lamido Sansui, who was speaking at the ceremony to flag off the campaign at Model Secondary School, Maitama, Abuja, on Monday said that there was need for youths to be educated on early saving.
The News Agency of Nigeria (NAN) reports that Sanusi took students from four schools in an hour lecture on the topic "Money Matters".
The schools that participated were Junior Secondary Model School, Maitama; Junior Secondary School, Idu Koro; Junior Secondary School, Karu, and Model Secondary School, Maitama.
This is a mentoring programme; it is part of our financial literacy campaign. I believe that it is extremely important that young boys and girls from a very early age cultivate the culture of saving.
Learn to spend less than they earn and also understand exactly how they can save their monies, what is the importance of insurance, pension plan, keeping your money in the bank and what are products and services,’’ he said.
He said that it would make a lot of impact on the youths when people of his status came to teach them on these issues.
He said that the programme would be done every quarter across the country, adding that Deputy Governors and Bank Chief Executives would be involved in the programme.
Sanusi said that the campaign would identify different target groups, including senior workers who do not know how to make retirement plans.
We have people we do not know much about life insurance and how to make provision for their family in case of sickness or death and they are adults.
We have people who do not know the risk they take when they put all their money in one product like the capital market, so the financial literacy will identify and segment the different target markets and have different approaches and content.’’
He added that the campaign was not looking at financial literacy alone but also financial capability building, adding that financial capability would help an individual to reach optimal decision on financial choice with confidence.
When the students asked him what he would do after retirement, the governor said that he would like to retire as a teacher.
I will visit schools, I hope to continue teaching. You know I have had many careers. I started my life during the National Youth Service as a secondary school teacher, then I became a teacher, then a banker and CBN governor.
"But the one thing that I would like to be and I think would be is to be a teacher for life."
Earlier in her address of welcome, Mrs Fatima Baba-Ari, the Director, Federal Capital Territory, Secondary Education Board, commended the effort of the apex bank on the financial literacy campaign.
"The impact of this programme cannot be underestimated as our students require a lot of mentoring, motivation and inspiration. This opportunity provided by a reputable institution like the CBN is certainly going to be a life changing experience for these future leaders of this great nation," Baba-Ari said.
She solicited the support of the apex bank in effort to implement the new senior secondary school curriculum by way of providing ideas, personnel and resources.
The CBN Governor, Malam Sanusi Lamido Sansui, who was speaking at the ceremony to flag off the campaign at Model Secondary School, Maitama, Abuja, on Monday said that there was need for youths to be educated on early saving.
The News Agency of Nigeria (NAN) reports that Sanusi took students from four schools in an hour lecture on the topic "Money Matters".
The schools that participated were Junior Secondary Model School, Maitama; Junior Secondary School, Idu Koro; Junior Secondary School, Karu, and Model Secondary School, Maitama.
This is a mentoring programme; it is part of our financial literacy campaign. I believe that it is extremely important that young boys and girls from a very early age cultivate the culture of saving.
Learn to spend less than they earn and also understand exactly how they can save their monies, what is the importance of insurance, pension plan, keeping your money in the bank and what are products and services,’’ he said.
He said that it would make a lot of impact on the youths when people of his status came to teach them on these issues.
He said that the programme would be done every quarter across the country, adding that Deputy Governors and Bank Chief Executives would be involved in the programme.
Sanusi said that the campaign would identify different target groups, including senior workers who do not know how to make retirement plans.
We have people we do not know much about life insurance and how to make provision for their family in case of sickness or death and they are adults.
We have people who do not know the risk they take when they put all their money in one product like the capital market, so the financial literacy will identify and segment the different target markets and have different approaches and content.’’
He added that the campaign was not looking at financial literacy alone but also financial capability building, adding that financial capability would help an individual to reach optimal decision on financial choice with confidence.
When the students asked him what he would do after retirement, the governor said that he would like to retire as a teacher.
I will visit schools, I hope to continue teaching. You know I have had many careers. I started my life during the National Youth Service as a secondary school teacher, then I became a teacher, then a banker and CBN governor.
"But the one thing that I would like to be and I think would be is to be a teacher for life."
Earlier in her address of welcome, Mrs Fatima Baba-Ari, the Director, Federal Capital Territory, Secondary Education Board, commended the effort of the apex bank on the financial literacy campaign.
"The impact of this programme cannot be underestimated as our students require a lot of mentoring, motivation and inspiration. This opportunity provided by a reputable institution like the CBN is certainly going to be a life changing experience for these future leaders of this great nation," Baba-Ari said.
She solicited the support of the apex bank in effort to implement the new senior secondary school curriculum by way of providing ideas, personnel and resources.