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CBN mobilises school children to embrace saving culture

CBN mobilises school children to embrace saving culture

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The Central Bank of Nigeria (CBN) has started a campaign to educate school children about money, saving, creating livelihoods and becoming an entrepreneur.

The CBN’s Deputy Governor, Financial System Stability (FSS), Mrs. Aisha Ahmad led some CBN Directors to visit some schools within Abuja as part of activities to mobilise secondary school children to embrace money saving culture as well as mark the Global Money week.

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

Ahmad urged the children to learn to manage their money wisely, save and invest for their future.

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The CBN Deputy Governor also spoke to the students on the benefits of budgeting, “which gives one control over finances, help to build assets and create a healthy financial situation.”

According to her: “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 also took the opportunity to educate the children on the difference between good and bad debt.

Specifically, she explained to the children that “going into debt for things that do not improve your net worth such as vacations, clothes and eating out could undermine their financial goals.”

The CBN, she said, is “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 thing, 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.”

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