By JEROME USHAKANG
First Bank of Nigeria Limited has said that it will be taking its Financial Literacy campaign to 30 secondary schools across the six geo-political zones of the country to teach students the importance savings culture.
The submission was made on ‘World Savings Day’ as the bank joined the rest of the world to commemorate the 2017 World Savings Day, recently.
The 2017 commemoration with a theme: “Our Future Starts with Savings” aligns with First Bank’s Future-First programme, specially designed to equip students with the knowledge of money management, early entrepreneurship skills, and financial independence whilst stimulating the development of a savings culture at an early age.
Group Head, Marketing and Corporate Communications, First Bank of Nigeria Limited, Folake Ani-Mumuney, in her speech on the World Savings Day, said, “First Bank’s participation in the 2017 World Savings Day is one of our many interventions in Financial Literacy, as the Bank continues to entrench the savings culture across all its markets.
She stated that FirstBank has over several years engaged in a Savings Promo to encourage and reward savings whilst committing human and financial resources to the development of financial literacy among secondary school students under the auspices of the FirstBank Future-First programme.
According her, to encourage parents to imbibe the savings culture as well as teach their children to save, First Bank has provided two major savings products for children and teenagers.
These products are KidsFirsts meant for children from zero – 12 years and MeFirst for teenagers whose ages range from 13 – 17 years.
Madam Ani-Mumuney explained that the products have been carefully designed to meet the financial needs of the given demographics whilst also ensuring that the accounts holders acquire the rudiments of banking and financial literacy as they grow into adulthood.
Similarly, Wema Bank Plc, also joined the world in celebrating the World Savings Day under the theme “Our future starts with savings”.
The Deputy Managing Director of the Bank, Mr. Ademola Adebise who was on the field to spearhead the campaign at Edokpolor Grammar School, Benin City, Edo State, encouraged students to imbibe the savings culture.
“There is no future as secure as the future of a person who saves. Saving shows how dedicated you are to planning for the future and anyone who plans usually succeeds,” said Adebise in an interactive session with the students of the school.
“Your future starts with savings. How much do you get from family and friends? Have you thought about saving the money for books or to ensure you study at a University you really like? There are many possibilities you can explore if you commit to saving. Don’t ever forget that your future starts with savings,” Adebise told the students who gave a rousing applause as he ended the session.
He also answered questions asked by the students on savings and ensured that they understood every explanation vividly.
The World Savings Day emphasizes the importance of savings to economic development, and provides a good occasion on how to help solve the challenge of savings.
World Savings Day is backed by The World Savings and Retail Banking Institute and The European Savings and Retail Banking Group (WSBI-ESBG)’
The World Savings Day is an annual event designed to raise awareness on the importance of savings as a path to financial empowerment.
The event is expected to increase the levels of financial literacy and financial inclusion, especially among the unbanked and under-banked populace globally, while it ultimately culminates in a stable and sound financial system and positive economic environment.