World Savings Day: CBN Introduces Financial Literacy Into Secondary Schools Curriculum

By Niyi Olutunde, Akure

The Central Bank of Nigeria (CBN) said it has introduced financial literacy programme into curriculum of secondary schools in the country.

The apex bank said the programme, in collaboration with Nigeria Education Research Development Council (NERDC) was designed to teach secondary school students the importance of having a saving culture and other investment.

The CBN Director, Consumer Protection Department, Mr. Kofo Abdulsalam-Alada gave the disclosure at the school mentoring programme held at Victory College School, Ikare-Akoko, Ondo state.

The programme was organized by the CBN for Secondary school students in commemoration of the World Savings Day.

The World Savings Day is an annual event designed to raise awareness on the importance of savings as a path to financial empowerment.

Abdulsalam-Alada said that the programme, specially designed to equip students with the knowledge of money management, early entrepreneurship skills, and financial independence while stimulating the development of a savings culture at an early age.

He therefore advised students to imbibe the culture of savings in little in order to meet their future and emergency needs.

His words, “We have a collaboration with Nigeria Education Research Development Council (NERDC) in designing a curriculum that will ensure that financial literacy is actually infused into subjects that are being taught in secondary schools in Nigeria.

“Series of workshop had been done, pilot testing of some of the design programmes has been carried out in Lagos. Within this school calendar year infusion into the system should commence in subjects like Accounting, Economics and Commerce in order to give the children knowledge about savings, other forms of investment. It is not when they get to the university they start learning about financial literacy.

“We have some graduates out there who do not have financial literacy. You might get money but if you don’t have the management of these funds, you might have problem with spending. That is why CBN decided to introduce this programme to catch these children young.”

Five different secondary schools were picked from Ondo North Senatorial District for the annual programme which includes, Lennon Jubilee High School, Agolo High School, Victory College, Mount Camel’s Girls School and Ahmadiyah Grammar School, Ogbagi-Akoko.

As part of the activities lined up for the day, educational materials ‘Basic Financial Education and Management’ was presented to the all participants.

Speaking on behalf of his fellow students, Mogaji Samuel from Victory College Ikare-Akoko commended the CBN for taken the educative programme to Ondo state saying that the programme would help them not to spend recklessly again but rather save it to the bank for the future purposes especially among the unbanked and under banked populace globally.