Moruf Oseni, managing director/CEO of Wema Bank has emphasised the importance of inculcating financial literacy from early childhood and teenage years, saying it helps to produce more financially responsible adults.
“Teenagers stand at a confluence between childhood and adulthood, and while 0-8 are regarded as the formative years, teenage years have the capacity to steer the course of adulthood, and it is important that we leverage this pivotal phase to steer teens in the right direction,” Oseni said.
He spoke at the launch of Wema Bank’s highly anticipated ALAT Xplore App, a first-of-its-kind mobile banking app designed strategically to empower teenagers ages 13-17 with financial resources and opportunities to give them a head-start towards financial responsibility.
According to him, Wema Bank created the ALAT Xplore Account to help parents and guardians build a solid financial foundation for their teens, and the results have been impressive so far.
Read also: How young Nigerians can leverage financial education to build a saving future
“However, we identified an equally important need for these teens to become involved in this journey to financial success, hence the launch of the ALAT Xplore App. The App has been curated intentionally to give teens a head-start in their journey to financial independence, helping them understand the intricacies of finance management and how best to navigate the terrain, ensuring that by adulthood, they are equipped to thrive. The goal is to build more financially responsible adults from the point of being teens”.
“We are excited to launch teenagers across Nigeria into a world of financial possibilities through the ALAT Xplore App, and we invite parents, guardians and teenagers across Nigeria to join us on this thrilling journey.”
He noted that the big picture for the bank was to empower teens towards financially responsible adulthood by introducing them to the practicalities of finance management in the most simplified, relatable and realistic way.
The App was unveiled at the official launch event on Saturday, October 26, 2024, in Lagos, and is currently available on the PlayStore or App Store. The App boasts a unique range of engaging, educative and innovative features that make finance management more interesting for teenagers and help them weave financial literacy into their daily lives.
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