Junior Achievement Nigeria (JAN) has entered into a partnership with the Bankers’ Committee to spread financial literacy awareness among young people across the 36 states in the country.

Members of the Bankers’ Committee had visited secondary schools as part of the celebration to mark the Global Money Week, with the theme, ‘build your future, be smart about money’.

A statement by JAN described Global Money Week as an a yearly global awareness-raising initiative that emphasises the importance of ensuring that young people are financially literate through information, skills, attitudes and behaviour needed to make sound financial decisions and achieve financial well-being.

It stated that this year, JAN, in partnership with the Bankers’ Committee, celebrated the Global Money Week with a six-day long series of events and activities including the Financial Literacy Day in select schools across the country.

“Today, millions of adults live in debt and, in extreme cases, abject penury due to inability to make proper financial decisions.

“A recent data by Organisation for Economic Co-operation and Development (OECD), reveals that a large number of children do not understand the basics about money and the majority of youth are not able to perform very simple calculations related to interest rates,” it stated.

It added: “This partnership is expected to achieve the ultimate goal of the Global Money Week by ensuring that children and youth have access to high-quality financial education, learn about money matters and make smart money decisions that can improve their financial well-being now and in the near future.”