CBN marks money week, focuses on financial literacy for children

By Seun Ibiyemi

The Central Bank of Nigeria (CBN), says there is the need to extend financial literacy to children to enable them plan for the future.

The Head, Consumer Education Division, Consumer Protection Department of the CBN, Chinyere Nwobilor said this on Tuesday in Abuja, at a financial literacy fair to commemorate the Global Money Week.

The Global Money Week is a global money awareness celebration that takes place in March every year.

It is organised to raise awareness on economic citizenship and to directly engage children and youth worldwide on the issue.

The theme for the 2023 edition is “plan your money, plant your future.”

According to Nwobilor, without financial education, children will not be able to imbibe financial discipline.

“The essence is to educate children to enable them acquire financial capability that help them have financial well-being.

“We are trying to catch the children young to be able to earn, to save and to invest at a young age, and CBN is coordinating all stakeholders in this regards.

“It is on the pipeline to include financial education in schools’ curriculum,” she said.

She said that the best way to encourage the children to plan for their future is through savings; through budgeting and through investment.

“The children should equally be taught to separate their needs from their wants, so that they do not spend all their money on their wants.

“The Deposit Money Banks are represented here, and and we invited the students to come and interact with them.

“The banks have products for children, and it is an opportunity for them to be educated about such products,” she said.