The Chief Executive Officer of 9 Payment Service Bank (9PSB), Branka Mracajac, has reiterated the critical role financial literacy play in driving financial inclusion. “There is no doubt; one way to drive financial inclusion is through financial literacy which is exactly what we have done here today. Financial literacy is very important in the process of driving financial inclusion”.
She stated this in commemoration of the 2023 Global Money Week being championed by the Central Bank of Nigeria (CBN), in its bid to bring financial literacy and education to students in secondary schools across Nigeria.
Global Money Week is an annual global awareness campaign aimed at educating young people on the values attached to money and the entire money cycle – earning, savings, spending, investing, and donating. The 2023 edition was held between 20 and 26 March, with various financial sector players all over the world marking the week with different activities.
“It is important to highlight that this laudable mentoring programme is being championed by the Central Bank of Nigeria and 9PSB is fully in support of the initiative, as it perfectly fits into our social objective as a bank. There is no better time to start than now with students at this level because they are the leaders of tomorrow,” Mracajac said.
9PSB marked the Financial Literacy Day with a school mentoring campaign held simultaneously at three different locations – Ajao Estate Senior Grammar School, Isolo, Lagos; Wuse Comprehensive Secondary School, Abuja; and Kano Capital Girls Secondary School, Kano, respectively.
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The occasion was centred on the theme of Global Money Week: ‘Plan your Money, Plant your Future’, was also used to formally introduce the 9PSB Financial Literacy Club, a corporate social responsibility (CSR) initiative of the bank to the schools.
The 9PSB CEO, who formally inaugurated the club at Ajao Estate Senior Grammar School, Isolo, Lagos, noted that financial literacy has become a necessity for everyone particularly the youth in the digital age, in order to prepare them for making informed decisions, especially in matters relating to money, savings and investment, thereby preparing them for the future.
“It is important to spend your money wisely. One of the ways to help you spend your money wisely is to make a budget. To make a budget, you need money. So, you plan on how to split your costs into wants and needs. It is important to carefully distinguish between what we truly need and what we merely desire, to properly plan and manage a budget,” Mracajac said.
