FCMB intensifies financial literacy campaign among youths to marks World Savings Day

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ZAMFARA, NOVEMBER 7, 2016 – First City Monument Bank (FCMB) Limited has intensified its financial literacy campaign among youths by organising an outreach programme for students in 12 secondary schools across the country.

The exercise was in commemoration of this year’s World Savings Day. The beneficiary schools are in Anambra, Zamfara, Oyo, Jigawa, Osun, Adamawa, Bayelsa, Niger, Gombe, Imo, Benue and Delta states. The bank organised the programme in partnership with the Bankers’ Committee of the Central Bank of Nigeria (CBN).

The World Savings Day, which is celebrated every October 31, is aimed at enhancing the knowledge and understanding of students as well as the general public on the importance of savings, financial control, planning and other financial transactions to the development of individuals and society.

Speaking during the mentoring session for students of Government Day Secondary School, Samara in Gusau, Zamfara state, FCMB’s Zonal Head, Kano West, Abdullahi Mainasara, said that embracing financial principles at an early age will go a long way to help students and the youths to manage their resources effectively, appreciate how money works and how it can be channelled to productive ventures. Among other things, he urged the students, ‘’put aside a portion of what you earn regularly in a safe place that pays interest. This is known as savings’’.

He urged them to save their money in banks to enable them secure and earn interest on such cash and reduce the risk of spending, theft.

Also mentoring the students of Mater Amabilis Secondary School, Umuoji in Anambra State, the Manager Nnewi Old Onitsha Branch of FCMB, Vincent Agbasi, pointed out that, ‘’by being financially literate, students and indeed youths will be able to build their capacity for future business endeavours.

Commenting on the significance of the bank’s involvement in the annual World Savings Day, the Group Head, Corporate Affairs of FCMB, Diran Olojo, said that it is an extension of the lender’s commitment to drive and deepen prudent and effective management of resources among the populace.

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