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BANKING AND FINANCE

CBN Teaches School Children To Embrace Savings Culture

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CBN Governor, Godwin Emefiele

The Central Bank of Nigeria (CBN) on Thursday set out to educate school children about money, savings, creating livelihoods and becoming entrepreneurs.

Mrs Aisha Ahmad, the CBN Deputy Governor (Financial System Stability), led some CBN directors to visit some schools within Abuja as part of activities to mark the Global Money Week.

The schools visited were the Government Secondary School, Wuse Zone 3, and the Staff Community Secondary School, Asokoro.

Ahmad, while interacting with the students, conveyed key messages to empower the children and youths to learn to manage their money wisely – save and invest for their future.

She also spoke to the students on the benefits of budgeting to give one control over finances, help to build assets and create a healthy financial situation.

“Budgeting is about choices. Choose what to save for the future, what to spend now and what to spend on.

“Needs first, wants later,” she said.

Ahmad also educated the children on the difference between good and bad debt.

She explained that going into debt for things that would not improve one’s net worth such as vacations, clothes and eating out could undermine one’s financial goals.

“We are passionate about creating an economy that will benefit all Nigerians and to be able to do that everyone needs to be financially literate.

“They need to know the proper ways to earn money.

“My message to all children today is do the right things, study hard, try and understand yourself, who you are, what you like to do and see how you can use that to change the world,” she said.

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