Stanbic IBTC Seeks Improved Adoption of Micro Pension


Stanbic IBTC Holdings Plc, the parent body of Stanbic IBTC Pension Managers, has strategised to drive the micro pension scheme and other financial products, through a nationwide enlightenment and awareness campaign tagged: ‘Youth Leadership Series Campus Tour,’ under the aegis of its Youth Leadership Series (YLS).

The company said through the campaign, it aims at introducing the youths to financial products like savings account, mutual funds and micro pension, adding that the initiative goes beyond deepening financial literacy to fostering inclusion among the youths.

The Chief Executive, Stanbic IBTC Holdings PLC, Mr. Yinka Sanni, said the campaign was borne out of the financial institution’s determination to expand its retail value proposition and in appreciation of the pivotal role financial literacy plays in the development and growth of any forward thinking society.

“The objective of the initiative is to equip the unbanked and underbanked Nigerians across the country with the requisite knowledge and skills to make informed financial decisions and to educate them on the benefits of financial planning and a savings culture.

“The importance of acquiring relevant skills is so important that they need to imbibe and inculcate financial discipline in the public to ensure they are able to take charge of their own financial future in a world that is constantly increasing in its complexity,” he said.

Sanni, stated that arming both the youths and the general public with the rudiments of financial literacy was key to personal and economic growth.

“This is a project that is very dear to Stanbic IBTC Group. We clearly recognise the correlation between financial literacy and sound financial decision-making, on one hand, and the strategic role of qualitative education in stimulating socio-economic development, on the other,” Sanni stated.

The tour, according to the Stanbic IBTC boss, would touch different states, cities and towns with campuses, malls and other places where people congregate.

“Our expert financial coaches would be touring the country to places where we believe financial education is most needed while adopting an interactive and fun learning approach to ensure maximum impact and adoption,” he said.

According to him, Stanbic IBTC aims to help many Nigerians gain the knowledge, skills and confidence to make informed financial decisions, particularly on how to start saving money for their future needs. Introducing them to smart financial and investment concepts that will be applicable throughout their lives, and applying them to the real scenarios which they face daily as well as scenarios they are likely to face would be a major aspect of the enlightenment tour.