CBN to introduce Financial Literacy into secondary school curriculum

The Central Bank of Nigeria (CBN) on Thursday, said all arrangements have been concluded to introduce financial literacy programme into the Secondary Schools Curriculum across the country.

The CBN Director, Consumer Protection Department, Mr Kofo Abdulsalam-Alada, who disclosed this during school mentoring programme organised by the apex bank in Ikare-Akoko, Ondo State, said the programme was designed to give students the needed knowledge on savings and other investment.

According to him, the programme was put together by the CBN in collaboration with Nigeria Education Research Development Council (NERDC) for Secondary school students in commemoration of the World Savings Day.

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He explained that the financial literacy programme is expected to commence in the current calendar year saying emphasis would be given to some subjects which included Accounting, Commerce and Economics.

He advised the Secondary school students to imbibe in the culture of savings in order to meet their  future  and emergency needs.

He said: “We have a collaboration with Nigeria Education Research Development Council (NERDC) in designing a curriculum that will ensure that financial literacy is actually infused into subjects that are being taught in secondary schools in Nigeria.

“Series of workshop had been done, pilot testing of some of the design programmes has been carried out in Lagos.

“Within this school calendar year infusion into the system should commence in subjects like  Accounting, Economics and commerce in order to give the children knowledge about savings, other forms of investment. It is not when they get to the university they start learning about financial literacy.

“We have some graduates out there who do not have financial literacy. You might get money, but if you don’t have the management of these funds, you might have problem with spending. That is why CBN decided to introduce this programme to catch these children young.”

Alada noted  out that inflation has been the major factor militating against savings in the country, but said the apex bank would do everything  possible to address the situation.