Business
CBN Boss Seeks Financial Education For Youths
The Central Bank Governor, Malam Sanusi Lamido Sanusi, says financial literacy was a sure way to economic growth and development in the country.
Sanusi made his views known at the grand finale of the Child and Youth Finance Week yesterday in Abuja.
“It is only when the majority of Nigerian population, including children and youth, are financially literate that they can understand, make informed choices and better utilise financial products and services.
“By so doing, they are able to contribute to financial stability, economic growth and development,” he said.
Represented by the Deputy Governor Operations, Mr Tunde Lemo, he said that the apex bank had developed a financial literacy frame work, which articulated a strategic direction for the delivery of financial education in Nigeria.
Sanusi said that the framework encompassed a multi-stakeholders approach to the delivery of financial literacy programme across various target groups of the population.
He said: “One of these target groups is the Nigerian children and youth.
“The ultimate goal of the framework is to empower Nigerians with the knowledge to make informed financial decisions that would enhance their well-being.”
He said that child and youth financial week was celebrated worldwide to propagate financial literacy to enable youth and children have access to safe and trustworthy financial services.
The CBN governor said that growth and development of Nigeria rest on the youth, adding that there was the need to invest in them to prepare them for the future challenges.
He said that the apex bank had in 2009 embarked on a reform programme designed to reposition the Nigerian financial sector for greater impact on the country’s growth and development.
“An important aspect of the programme is consumer protection and financial literacy,” he said.
Also speaking, the Director, Consumer Protection Department, Hajia Umma Dutse, said the CBN through the Consumer Protection Department had embarked on ensuring a safe, suitable and sound financial system in Nigeria.
She said that the mission of the global child and youth finance movement was to ensure that 100 million children and youths in 100 countries had access to suitable financial products and education by 2015.
“The Consumer Protection Department would continue to develop initiatives to create synergy between the financial sector and education provider.
“This will be for the development of child and youth friendly banking products and service in Nigeria.
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