Managing Director, Polaris Bank, Mr. Innocent Ike has stressed the need for teens and youths to imbibe the culture of saving money early in life, to enable them secure their future.
He gave the 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), aimed at raising awareness on the importance of savings and youngsters becoming financially aware early in life.
Ike, who was represented by Group Head, Southwest 1, Polaris Bank, Dr. Abimbola Akorede, 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.
“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,” Ike said.
He explained that the financial sensitisation campaign was 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 a non-governmental organisation (NGO), Junior Achievers (JA) Nigeria. The annual programme is designed to help raise awareness and sensitize students on the need to be financially independent and empowered.
“Although it is an annual event, we will, however, 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,” Ike said.
He later responded to several questions put to him by a cross section of the students.
He assured 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.
Over 100 schools were visited by staff members of Polaris Bank and thousands of students were taught the fundamentals of savings. They were also handed financial literacy literature across all the six geo-political zones of Nigeria during the weeklong activities marking the 2022 Global Money Week (GMW).