Ecobank Mentors Students On Acquiring Right Skills, Personal Budgeting.
Managing Director of Ecobank Nigeria, Patrick Akinwuntan, says students should be thought and encouraged to imbibe the right skill at an early age to prepare them for choice jobs and also inculcate in them the necessary skills and ability to set up their own businesses.
Akinwuntan, who was mentoring students and teachers of Ahmadu Bahago Secondary School, Minna, as part of this year’s Financial Literacy Day pointed out that financial literacy at an early age is a must for the younger population to be productive in future.
The Financial Literacy Day initiative is set up by the bankers’ Committee through it’s Financial Literacy and Public Enlightenment Sub-Committee (FLSC) for children and youths in primary and secondary schools, public and private nationwide with the aim to educate them on financial literacy.
Top management of the Bank went to different schools to tutor and mentor students and youths on basic money management skills.
In his presentation titled: Learn. Save. Earn, Akinwuntan, who was represented by Head, Corporate Banking, FCT/North, Isah Salifu, enjoined the students to imbibe basic financial principles at an early stage of their life which will help them to manage their resources effectively in the future.
He took the students through several topics such as needs and wants; money management techniques; budgeting; spending and saving; different types of financial accounts; merits of saving with a financial Institution; Important banking terms and regulators of the financial sectors, among others.
Also speaking on budget principles as a way to enhance financial planning, he said, “Budgeting can help you to distinguish between wants and needs. It is creating a plan for how you spend your money. Writing down how much you have and how much the things you need will cost, allows you to see what is left over for the things you want. It also stops your impulse purchases and helps you to save.”
Responding, the school’s Principal, Abdul Aliyu, commended Central Bank of Nigeria (CBN) and Ecobank for choosing the school, stating that they would put to use what they were taught. He noted that the “interactive session provided an opportunity for the students and teachers to ask pertinent questions about financial literacy and its benefits”.
Over 80 students attended the training while three students were presented with prizes. On ground also was a team from an NGO, Ja-Nigeria Limited, CBN partner in the project led by Mr. Mavi Utomudo.