By Faith Ekeh Abuja.
As Nigeria joins the rest of the world to mark the 2018 World Savings Day, two Non-governmental organisation (NGO):
Wholelife Initiative for Development in Africa (WID-A) and Citizen Hub has partnered to sensitize some secondary school students on financial literacy at the Government Day Secondary School(GDSS) Karu Abuja.
According to them, the world’s savings Day presents an opportunity to empower low socio-economic groups by educating children within poor families on key aspects of financial literacy, and promoting the idea for future impact.
Speaking to newsmen, a co-founder of WID-A, Miss Hope Ulukwu stated that both NGOs partnered based on an identified mutual commitment to boost the progress of SDG 1 (No poverty) through the SDG 4 (Quality Education) to deliver financial literacy education to mark the World Savings Day, 2018.
Hope explained that a lot of Nigerians do not see the importance of financial intelligence. According to her, “There is an underlining assumption that once you go to school and get a good job, your life will automatically change financially. This assumption has been proven wrong over time as we have many poor doctors, lawyers, engineers and the likes”.
“We decided to commemorate this day as part of our ‘Empowerment through Education’ project to make some efforts in changing this narrative especially for the displaced children and children from financially challenged backgrounds who might otherwise never get such knowledge”, she added.
Also Speaking, the founder of Citizen Hub, Hajia Aisha Yesufu, during her keynote speech on the Theme: ‘NotTooYoungToHammer’, noted that the need to bridge the gap of financial literacy for children that is absent in our educational system and homes necessitated the sensitization programme. According to her, “We saw the need to teach them that as young as they are, they can save up capital to sponsor their dreams, goals and to take advantage of some financial investment opportunities”.
She urged parents to see the need to teach their children the habit of savings towards financial independence. In her words, “parents should teach their children the habit of money savings, operating small businesses and making little investments. Parents should help their children open bank accounts and keep savings box or piggy banks to help them save from their little earnings and monetary gifts that can afford them the opportunity to make investments no matter how small.”
The highlights of the sensitization programme was an interactive educative sections to engage student groups of 15, to explore the concept of investment through the game of monopoly, the concept of cash flow management through a cash flow tree and simple budgeting model and the concept of prioritizing needs and wants through decision making and delayed gratification saving for tomorrow.
Government Day Secondary School Karu, Junior Secondary School Narai-Karu, School Without Walls Area 1 and the host of others were in attendance to mark the day.