Post Views: 606 In line with global practice and the mandate by the Central Bank of Nigeria (CBN) to all banks in the country to commemorate the World...
In line with global practice and the mandate by the Central Bank of Nigeria (CBN) to all banks in the country to commemorate the World Savings Day, First Bank of Nigeria Limited and FBNQuest Merchant Bank, both subsidiaries of FBNHoldings, joined the rest of the world on October 31 to mark the 2018 World Savings Day.
The celebration with the theme: “what do you wish for,” involved visits to 30 secondary schools across the country’s six geo-political zones, involving over 1000 students who were imparted with knowledge of financial literacy nuggets.
The Day is in line with FirstBank’s Future First programme, specially designed to equip students with the knowledge of money management, early entrepreneurship skills, and financial independence whilst stimulating in them savings culture at an early age. Commemorating the World Savings Day is consistent with the Bank’s financial literacy initiatives.
Also, volunteers from FBNQuest Merchant Bank went further to cover and highlight how students can take advantage of investment opportunities in fixed deposits and Mutual Funds from a young age, cultivating the habit of putting money away to meet medium to long term financial goals.
According to a statement by the group, the official website of World Savings Day said: “World Savings Day or World Thrift Day was established to inform people all around the world about the idea of saving their money in a bank rather than keeping it under their mattress.”
The celebration, it said, is akin to FirstBank’s commitment toencouraging its key stakeholders, customers, to imbibe savings culture whilst having their children also carried along on the essence of savings through its youth focused products, KidsFirsts (0 – 12 years) and MeFirst (13 – 17 years) carefully designed to meet the financial targets of the given demographics.
These accounts, it stressed, ensure the accounts holders acquire the rudiments of banking and financial literacy as they grow into adulthood and they both come with exciting packages to support the financial journey of the children, enabling them learn money management from an early age.
Speaking on the World Savings Day, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited said ‘’FirstBank’s participation in the 2018 World Savings Day is one of our many interventions in Financial Literacy.As the Bank continues to entrench the savings culture across all its markets, it has over several years engaged in Savings Promo to encourage and reward savings whilst committing human and financial resources to the development of financial literacy among secondary school students under the auspices of the FirstBankFuturefirstprogramme.
Sharing similar views, Kayode Akinkugbe, Managing Director/CEO FBNQuest Merchant Bank said “the CBN has created an essential platform which affords us the opportunity to enlighten the younger generation on finance-related matters, and contribute to financial literacy across the nation. It’s an initiative we are very proud to be a part of, as we believe such is crucial for the sustainable development of our nation.”
“We believe that opportunities to transfer a wealth of knowledge, are crucial to the development of our economy and the sustainability of society. We therefore, take very seriously, the responsibility of equipping the next generation so they can take our nation to its next level of success”; he added.
Recently, FirstBank organised its week long Corporate Responsibility and Sustainability event themed “Touching Lives; You First” which offered FirstBank employees the opportunity to give their time and resources to the service of humanity. The week-long event was simultaneously carried-out across its business communities in Nigeria, United Kingdom, Democratic Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, a testament of the Bank’s brand promise to always put stakeholder needs first, while reinforcing its role in driving sustainable development in the communities where it operates