As part of its commitment to inspiring the future by enhancing a culture of saving among youths, FBN Merchant Bank Limited, a subsidiary of FBN Holdings Plc, educated the students of six secondary schools in specific regions in Nigeria on the importance of savings. This was delivered in commemoration of the World Savings Day, on October 31, 2017 in line with the Central Bank of Nigeria (CBN) financial literacy initiative.
The World Savings Day is a global event aimed at increasing awareness on the importance of saving as a path to financial empowerment and independence. It is celebrated in many countries and is aimed at increasing financial independence around the world. The programme delivered by FBN Merchant Bank exposed the students to the practical aspects of monetary transactions, savings, investment and financial responsibility.
The schools impacted include the Victoria Island Junior Secondary School and Government College Victoria Island in Lagos; Government Secondary School in Lugbe and Kuje, Abuja; and Government Girls Secondary School in Port Harcourt, and discussions were focused on the importance of imbibing a savings culture at an early stage.
The students were counselled on how to save money as students, and encouraged to develop unique skills, which could help them earn better. Speaking at the Lagos event, Chinwe Okpala of FBN Merchant Bank emphasized the importance of learning and understanding financial independence through saving from an early age. She stressed that the fact that saving can help youths prepare adequately for the future and if a saving culture is ingrained and developed from youth, it would nurture them into being financially stable and independent adults.