FCTA Launches Campaign To Enhance Financial Literacy Among Households

In a significant move aimed at bolstering economic resilience, the Federal Capital Territory Administration (FCTA), through the Abuja Enterprise Agency (AEA), has initiated a comprehensive sensitisation campaign targeting over 150,000 households across the FCT.

The campaign which was the 3rd AFEC Financial Literacy and Inclusion Campaign, officially kicked off yesterday in Abuja.

At the event, Mr. Chudi Ugwuada-Ezirigwe, the acting managing director and CEO of the AEA, emphasized the changing landscape of global economics and the growing importance of financial inclusion in driving economic growth.

“Low-income earners make up the largest segment of any nation’s population, and providing them with access to financial knowledge can unlock vast opportunities for wealth creation,” he stated.

Ugwuada-Ezirigwe said that the AEA, serving as a special purpose vehicle for Small and Medium Enterprises (SMEs) development and employment generation in the FCT, aims to enhance the economic prosperity of residents through various projects and programmes.

According to him, the initiative hopes to equip individuals and business owners with essential financial tools to facilitate informed financial decisions and, ultimately, foster wealth creation.

The acting managing director highlighted the impressive milestones achieved since the inception of the AFEC programme Notably, the AEA has provided business and financial management education to over 38,000 micro, small, and medium enterprises (MSMEs), enabling enhanced financial acumen and better decision-making.

“The agency has also facilitated access to financial services for unbanked and underbanked MSMEs, and assisted around 30,000 MSMEs in securing grants and loans through various government and private schemes.

“The current campaign is set to be implemented through multiple phases utilising electronic media, social media platforms, road shows, seminars, and market outreach initiatives.

“The goal is to expose small business operators in the FCT to contemporary financial knowledge that can significantly improve their personal income management and business operations,” he said.

In a further effort to position the FCT as an entrepreneurial development hub, Ugwuada-Ezirigwe announced the forthcoming Abuja Business School of Entrepreneurship (ABSE).

He said that the initiative aims to deliver educational programmes that cater to the needs of a globalised and interconnected entrepreneurial ecosystem.

Ugwuada-Ezirigwe expressed gratitude to stakeholders and partners who contributed to the event’s success, acknowledging their vital roles in creating a supportive environment for aspiring entrepreneurs.

He extended special thanks to guest speakers and panelists for sharing their insights on financial management.

The campaign received backing from the FCT minister, Nyesom Ezenwo Wike, and the minister of State for the FCT, Dr Mariya Mahmud, who were lauded for their continuous support in enhancing the living standards of FCT residents.

The acting managing director said that as the campaign progresses, the FCTA envisions a future where financial literacy becomes a cornerstone of economic development, empowering citizens to make informed decisions that lead to financial security and business success.