In its sustained commitment to encourage savings culture among Nigerians FBN Holdings Plc, Nigeria’s most diversified financial services group through its subsidiaries; First Bank of Nigeria Limited, Nigeria’s Most Valuable Bank Brand and FBN Merchant Bank joined the rest of the world on Monday in celebrating the 2016 World Savings Day by engaging children and youths on the rudiments of savings in line with the Central Bank of Nigeria (CBN) financial literacy initiative.
The World Savings Day is an annual event aimed at increasing the levels of financial literacy while boosting the financial inclusion drive of the CBN in terms of number of people that have banking relationship with financial institutions. The main topic for this year’s discourse was “The Importance of Savings in the Global Economy and How every Depositor contributes to its Development”.
According to FBNHoldings Global Head, Marketing and Corporate Communications, Mrs. Folake Ani-Mumuney, FBN Holdings Plc is firmly committed to the advancement of financial inclusion in Nigeria and would continue to work towards this aspiration by extending banking services to the under-banked, the un-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 evolves towards ensuring that every child has access to financial services, financial awareness through education, a reliable source of income, and the will to save, FBN Holdings Plc is committed to assisting the Nigerian child and the young adult build a prosperous future by extending financial education and services to them early in life”, she said.
FirstBank and FBN Merchant Bank collaborated to adopt 17 schools across each geo-political zone as part of the activities to mark the World savings day. An average of 400 students per school were taught the basics of money and empowered with the financial knowledge they need to be relevant in the global economy.
To further secure the financial future of young students, FirstBank has in place the MeFirst Account targeted at secondary school students, between 12 to 17 years to make them financially savvy, whilst saving up funds for their education and other future endeavours.