• Friday, March 29, 2024
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BusinessDay

Savings culture is an important aspect of child development – Wigwe

Herbert-Wigwe-Access-Bank-MD

Group managing director, Access Bank, Herbert Wigwe, has emphasised the significance of promoting a savings culture among children as an essential factor for child development, as the continent’s largest retail bank joined the global community to commemorate the World Savings Day.

Building on its intensive effort to promote financial literacy and inclusion, the Central Bank of Nigeria (CBN) assigned 31 schools to Access Bank, across six geo-political zones in the country, to sensitise them on the importance of building a savings habit. The bank visited schools in Lagos, Taraba, Nassarawa, Jigawa, Akwa Ibom, Enugu and Ebonyi, where the GMD, represented by the zonal head, commercial banking East, Fidel Ibeabuchi, marked the day with students in the Ebonyi State University Staff School.

Speaking on the significance of being avid savers, the CEO’s representative said: “Imbibing a savings culture is an important aspect of child development, and as parents, guardians and teachers, it is our responsibility to instil in them this mentality. Apart from equipping them with financial freedom, it encourages a sense of discipline and planning, applicable to other spheres of life and important for them as they grow”.

He also urged the students to explore opportunities provided through saving, especially focusing on possible investments, starting a business, or planning for emergencies that can be handled independently without involving their parents or guardians.

Access Bank presented gift items, including water bottles, books and other school accessories to the students.

As part of the Bank’s promise to be ‘More than Banking’, the celebration of the World Savings Day aligns with its mission to enhance customer experience and drive financial inclusion through innovative methods and international best practices.

Other laudable initiatives around financial inclusion and literacy for children embarked on by the bank include its recent partnership with MTN at the mPulse planet. This initiative served to educate pre-teens and teenagers on the importance of practicing good savings culture through new and interesting ideas, where the bank introduced Dreamville.ng – a community where children can learn about managing money and other financial instruments, including other attractions to enhance early savings culture.