By Obinna Chima

In commemoration of the 2016 Financial Literacy week held last week, banks took out time to dedicate several hours to the teaching of financial literacy in selected schools across the country.

The financial literacy week is observed annually under the Global Money Week and it is recognised nationwide as part of efforts to establish and maintain healthy financial habits among kids and teenagers.

The Standard Chartered Bank Nigeria, for the third year running, took its financial literacy campaign to Uyo, Akwa-Ibom state.

Speaking at a workshop in Uyo, the Head, Client Relationships, Port Harcourt, Mrs. Ebiti Sam-Yudo, who represented the Managing Director/CEO, Standard Chartered Bank Nigeria, Mrs. Bola Adesola, said, giving students the fundamental information about financial literacy empowers them with the right tools towards becoming financially sound and independent individuals in the future.

She added: “This is an excellent initiative of the CBN as it equips children across the country with information around how to be financially responsible through training materials that touch on various topics including savings, budgeting, earning and investing money. Standard Chartered Bank Nigeria is proud to support the CBN in this initiative.”

The Principal of Rayfield Secondary School, Uyo; Mr. Unyimi Umoren thanked the bank for facilitating the workshop at the school.

Also, the Sterling Bank Plc disclosed that no fewer than 15,000 students in primary and secondary schools across the country benefitted from its voluntary teaching programme. It revealed that although it was assigned Gateway Secondary School, Abeokuta, Ogun State by the CBN, it decided to include additional schools from states such as Ekiti, Zamfara, Kano, Katsina, Plateau, Bornu, Gombe and Bauchi. Others are Kwara, Lagos, Edo, Delta and the Federal Capital Territory, Abuja.

The Group Head, Strategy and Communications of Sterling Bank, Mr. Shina Atilola, who represented the Managing Director and Chief Executive, Mr. Yemi Adeola in Abeokuta, explained that the bank took the decision to expand the coverage beyond the scope assigned to it by the CBN in order to reach out to more students and teach them how to imbibe the culture of financial management at a young age.

On its part, Union Bank of Nigeria Plc revealed that it adopted Maryam Alooma Muhktar Girls Secondary School, Kano, as part of activities marking this year’s Global Money Week.

“At Union Bank, we recognise the significance of promoting Financial Inclusion in Nigeria. We have developed a range of banking solutions tailored to service the under-banked businesses, communities and individuals across Nigeria. With our extensive network of over 300 banking centres, we have demonstrated our continued commitment to serve the Nigerian public,” the bank’s Group Managing Director and Chair of the Financial Literacy and Public Enlightenment Sub-committee of the Bankers’ Committee, Emeka Emuwa said.

The Executive Director, Commercial Banking Union Bank, Mr. Kunle Sonola, led the team to Maryam Alooma Muhktar Girls Secondary School, where they taught the students a module on Financial Literacy from a curriculum developed by Junior Achievement Nigeria, a non-governmental organisation focused on educating children on economic matters.

In the same vein, the United Bank for Africa (UBA) Plc said it organised a financial literacy day event for about 500 students at Imaguero College in Benin City.