Polaris Bank Managing Director/CEO, Innocent C. Ike, has stressed the need for teens and youth in Nigeria to imbibe the culture of saving money early in life, to enable them secure their future.
Ike gave this advice while addressing students of First Golden Grace International School, Abeokuta, Ogun state. The school has been adopted by Polaris Bank to mark this year’s Global Money Week (GMW) which is aimed at raising awareness on the importance of savings and youngsters becoming financially aware early in life.
The Polaris Bank CEO represented by the Group Head, South West 1, Abimbola Akorede in his presentation to the students, expressed concern at the negative consequences young people with little or no savings or financial investment awareness have to contend with. He assured that Polaris Bank will continue to sustain efforts aimed at promoting financial literacy among youths in particular, and Nigerians in general.
According to the banker, “We need to learn, earn, save, and invest money, you do not save after spending but rather, you save first before spending. The idea of inculcating financial awareness and knowledge, is to catch them young through education on finance and financial investment so that in future, their personal and financial lives can be guaranteed. To achieve this, we need to imbibe the culture of saving, no matter how little.”
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Ike further explained that the financial sensitisation campaign is part of the activities of the Global Money Week (GMW), an annual programme organised in conjunction with the Central Bank of Nigeria (CBN) in partnership with an NGO, Junior Achievers (JA) Nigerian. The programme is designed to help raise awareness and sensitise students on the need to be financially independent and empowered.
Speaking further he noted, “Although it is an annual event, we will continue to engage schools, parents and teachers, because we believe that by being financially literate, students and indeed, the young ones, will be able to build their capacity for future business endeavours, thereby securing their future from poverty and other financial challenges.”
Akorede later responded to and answered several questions put to him by a cross section of the students. He further explained that Polaris Bank, the CBN and the entire players in the banking sector, were ready to carry out enlightenment on a continuous basis; educate and teach students how to manage money that comes into their hands more frequently.
Earlier in her welcome address, the principal of the school warmly welcomed and thanked the Polaris bank team for the support towards the Global Money Week program. She told the students about the need to be attentive as they have a lot to learn and benefit from the programme, in the immediate and long run.
Global Money Week is an annual global awareness-raising campaign focusing on the importance of ensuring that teens and young people, from an early age, are financially aware, and gradually acquire knowledge, skills, attitudes and behaviours necessary to make sound financial decisions and ultimately achieve financial well-being and financial resilience.
