Polaris Bank last Thursday joined the rest of the world to celebrate the World Savings Day with students of Government Secondary School, Hei-Rayfield in Jos, Plateau State, and 30 other schools across Nigeria.
The World Savings Day was first celebrated on October 31, 1924, and since then, the global community has devoted October 31 of every year to the promotion of savings culture all over the World.
Tokunbo Abiru, managing director/CEO of Polaris Bank, as part of activities of the bank to mark the occasion, stressed the need for Nigerian students to cultivate the habit of growing their finances through regular savings.
According to Abiru, this can be achieved by carefully and constantly monitoring discretionary spending habits and building a realistic budget that distinguishes between needs and wants.
He said, “Money is never enough, that is the truth. You must deliberately decide to save money which means that saving is intentional. You must learn how to save 10 percent of your pocket money and save towards a specific purpose.
“Money saved should be placed in a financial institution for safekeeping and earn interest on your money. This reduces the risk of spending, theft and gives your money the chance to grow.”
The managing director, who was represented by the bank’s group head, North Central, Olayinka Obikanye, listed some of the ways through which the students can realize financial independence; making use of their skills, being an entrepreneur, creating their own budget, forming a savings club in their school; as well as opening their own bank accounts.
Commenting further while fielding questions after the lecture on why the Bank decided to organise the financial literacy lecture for the students, the Managing Director added: “Every school is actually worth going to but at the end of the day, you still have to focus on a particular location. And that is why this Government Secondary School, Hei- Rayfield was chosen.
“What we are doing as a Bank is in line with our Corporate Social Responsibility initiatives and commitment to financial literacy for the young ones. We are happy that several years to come, the students will look back and remember our positive impact in their lives through these programmes.”
The high point of the programme was the presentation of gifts to deserving students.
In her remark, the Principal of Government Secondary School, Hei-Rayfield, Rahila Dafyat thanked the bank for choosing their school for the lecture.
Dafyat, who was represented by the Vice Principal, Nash Gyang, assured the managing director that the students will put the knowledge they acquired during the lecture into practice so as to better their lives.
