Global Money Week: FirstBank Promotes Financial Literacy

Nigeria’s Most Valuable Bank Brand, First Bank of Nigeria Limited, is joining the rest of the world in celebrating the 2016 Global Money Week to engage children and youths in the rudiments of financial literacy.

The 2016 Global Money Week is scheduled to take place from March 14 to 20, 2016.

This year marks the fifth anniversary of the annual event.

It is with the theme: “Take Part. Save Smart!”

FirstBank as part of its Corporate Sustainability and Responsibility initiatives commenced the FutureFirst Programme to empower secondary school students between 13 to 17 years with the knowledge of building fulfilling careers and financial literacy.

In alignment with the CBN Financial Literacy Day and as part of activities to commemorate the Global money week, FirstBank has adopted Harmony Secondary School, Lokoja, Kogi State to teach the students the basics of money and empower them with the financial knowledge they need to be relevant in the world global economy.

The Bank’s Group Executive in charge of Retail Banking (North), Abdullahi Ibrahim, will lead FirstBank’s delegation to Harmony Secondary School, Lokoja on March 17, 2016.

The CBN Financial Literacy Day is designed as a core part of the “Framework for Financial Literacy in Nigeria” aimed at ensuring financial inclusion for the unbanked.

The Financial Literacy framework is also aimed at enabling the Nigerian population know, understand and develop the ability to evaluate financial products/services in the financial markets, thus decreasing the number of Nigerians that do not have access to financial services from 46.3 per cent to 20 per cent by 2020.

In addition, financial literacy would enable financial service providers understand the needs of their customers, products and associated risks.

According to Ibrahim: “FirstBank is firmly committed to the achievement of Financial Inclusion in Nigeria and would continue to work towards this aspiration by extending banking services to under-banked, businesses, communities and individuals across the country with our extensive network of branches and alternative service channels.

“Beyond this, we recognize that Financial Literacy is a key enabler in our quest for Financial Inclusion and that we must begin by ensuring that our children are properly empowered with a sound financial education.

“As the world progresses towards ensuring that every child will have access to financial services, financial awareness through education, a reliable source of income, and the will to save, FirstBank is committed to assisting the Nigerian child and young adult build a prosperous future by extending financial education and services to them early in life.”

Beyond the financial literacy day event, FirstBank will also be collaborating with the CBN on a Financial Literacy Summit/Financial Literacy Fair and Exhibition that would provide opportunities for visiting students to learn about the Bank’s products that are strictly targeted at the youth segment.