First Bank of Nigeria Limited and Wema Bank have announced their participation in the 2018 Global Money Week held recently.
The Global Money Week is a global event commemorated annually to expose youths to learn about money, savings, creating livelihoods, gaining employment and becoming an entrepreneur.Â This year, the event was held fromÂ 12th â€“ 18th March, 2018.
Among the activities lined up for the week by FirstBank was the Financial Literacy Day designed toÂ foster financial stability for individuals and the society at large, as it is believed that the more people are exposed to financial skills, the more likely they are to make informed decisions on money matters and in turn save money, make investments and improve their financial health and wellbeing
Â Speaking on the Global Money Week,Â theÂ Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited,Â Folake Ani-Mumuney, was quoted in a statement to haveÂ said:Â â€œIn recognition of the impact a healthy savings culture has in securing the future of a nation, FirstBank is committed to the development of financial literacy, most importantly among the youths and young children in elementary and secondary schools. With our products, KidsFirst and MeFirst, we promote an effective savings culture among young people by encouraging parents to guide their wards on savings at a tender age whilst building financial savvy skills for future purposesâ€.
As carried out in 2017 World Savings Day, FirstBank visited 30 schools across theÂ sixÂ geo-political zones.Â These schools were taught by staff of theÂ bank, in line with the approved CBN teaching module, developed by Junior Achievement Nigeria (JAN).
In a related development, as part of its effort to build a healthy savings culture amongst young Nigerians, Wema Bank visited several public schools across the country to educate students on the benefits of growing their financial knowledge and nurturing healthy investment habits which will serve them well in the future.
Over 25 schools, spread across all six geographical zones of the country, were visited by senior officials of the bank including OAU International School, Ile-Ife, Osun State, which was visited by the Bankâ€™s Deputy Managing Director, Ademola Adebise and the Executive Director, South Bank, Wole Akinleye.
During his visit,Â AdebiseÂ lectured the students on the important of imbibing a healthy savings culture at an early age, which he said makes it easier to achieve set life goals and puts them on the right path to attaining financial freedom.
Adebise also advised young people to learn the art of budgeting, noting that it helps in distinguishing between wants and needs.
â€œThis way you can set your priorities right, regardless of how little you haveâ€ he said.
Most of the students present at the interactive session admitted to having learned some useful saving tips and were keen to test their knowledge once they open a savings account. In a bid to help them kickstart their savings programme, Adebise agreed to fund the first 50 students who open an instant Wema Bank Savings Account during the session.