Union Bank engages 3,000 students on financial literacy

The Managing Director/Chief Executive Officer, and other top executives of Union Bank recently tutored over 3,000 students from 30 secondary schools across the country on financial literacy.

According to the bank, this is part of activities marking this year’s Global Money Week and Financial Literacy Day (FLD) based on the theme ‘Money Matters Matter’.

The Chief Executive Officer (CEO) of the Bank, Emeka Emuwa accompanied by the Executive Director, Commercial Banking, Adekunle Sonola led the team to African Church Grammar School, Abeokuta where they tutored the students on the basics of money, savings, gaining employment and becoming entrepreneurs.  The bank’s Head, Corporate Strategy and Innovation, Lola Cardoso and the Head of Corporate Affairs/  Corporate  Communications,  OgochukwuEkezie-Ekaidem were also part of the team to the school in Abeokuta.

A statement from the lender noted that senior employees of the Bank visited 29 other schools across the country including St. John’s School, Jos; Kabe College, Awka; Al-Birr College, Damaturu and Yewa College, Ilaro where they held similar classes for the students.

CBN raises concern about the unbanked

During his remarks, Mr Emuwa noted that one of the best approaches to driving financial inclusion is by engaging children and youths on the rudiments of savings in line with the Central Bank of Nigeria’s (CBN) financial literacy initiative. While tutoring the students at African  Church  Grammar  School,  he stressed the need for the students to imbibe the savings culture at a young age. He further encouraged them to learn to prioritize their needs over their wants in order to cultivate the very useful habit of saving.

Financial Literacy Day is a day set aside by the CBN during the Global Money Week (GMW) to focus on increasing the level of awareness of the youth on the importance of earning, managing and saving money in order to have a secure future.  Union Bank aligns with this initiative that is targeted at getting more young people to participate in the formal banking  system.