Nigeria:Stanbic Teaches Kids Financial Literacy

  • 27 October 2020 / News / 248 / Emerging Africa

Nigeria:Stanbic Teaches Kids Financial Literacy

Stanbic IBTC Holdings PLC has educated Nigerian pre-teens and teenagers on how to develop a savings and investment culture.

Through its New School Money Initiative, the organisation, in a bid to increase financial literacy among the young people, gave the training at the weekend to improve and deepen the financial knowledge of Nigerian children.

The training which was held virtually was the fourth in its series and was themed: “The Art of Money: Earn, Save and Invest”

Representatives from Stanbic IBTC shed light on subjects to distinguish between wants and needs, assets and liabilities, as well as the importance of making the right financial decisions. These were communicated using simple relatable videos and illustrations.

A total of 703 participants attended the sessions in the three age categories. 53 wealth facilitators selected from various regions of operation also delivered the exciting sessions cutting across 18 virtual classrooms. Interactions recorded through the sessions were a total of 2,166 comments.

Obinna Lewis-Asonye, Zonal Head, Micro Pension and Agency, Stanbic IBTC Pension Managers, who anchored one of the sessions, emphasised that earning money was the first step towards financial freedom, followed by budgeting and investing.

He said, “To get more money, you must limit your withdrawal so that your interest can grow.”

Speaking on the continuity of the initiative, Bridget Oyefeso-Odusami, Head, Marketing and Communication, Stanbic IBTC Holdings PLC, said the session would be an annual event as part of the organisation’s goal to continually increase the number of financial literate individuals across the country.