To mark the 2024 Global Money Week (GMW), Nigerian Exchange Limited (NGX), Central Bank of Nigeria (CBN), and other capital market operators have organized a symposium in Lagos to raise the level of financial literacy in some students.
GMW is a yearly global awareness campaign that emphasizes the value of ensuring that young people are financially aware from an early age and are eventually acquiring the knowledge, skills, attitudes, and behaviors necessary to make good economic decisions and finally achieve financial well-being and economic resilience.
With the concept Protect Your Cash, Safe Your Future, this is the 12th version of the world celebration. In order to host the event, Chapel Hill Denham, Coronation Group, Central Securities and Clearing System Plc, and Miniemoney partnered with CBN and the Exchange.
Acting Chief Executive Officer of the NGX, Jude Chiemeka, praised the kids for embracing financial education and for being informed that it is a lifelong endeavor in his pleasant address at the celebration.
He continued, “I think this concept has particular importance, especially for young people like yourselves, who are at a crucial point in laying the foundation for the path and quality of your lives ten years from now.”
This event is a major step in our continuing effort to develop a generation of financially educated potential leaders who will have the knowledge and skills to create sound financial decisions using the variety of financial literacy resources at their disposal. Financial education and dependable money management are not just attractive qualities but are essential tools for achieving long-term financial security and prosperity as we navigate the complexities of the economic world.
The Nigerian Exchange Limited is here to assist you every step of the way, Chiemeka added.
The Sabi Money Platform of the Apex Bank and how informative it is for schoolchildren were speakers at the occasion, noted Lanre Gbadamosi of the Consumer Protection section at the Central Bank of Nigeria.
The Sabi Money Platform contains 15 line of financial literacy-related content, according to the authors. “Financial planning must begin now, and it must begin with you, the children,” he said.
In her display, Coronation Merchant Bank’s Chief Economist and Head of Economic Research/Intelligence, Chinwee Egwim, educated the audience on the various financial conditions and how they are affected.
“Attending situations like this is the first step in ensuring your future. You may protect your income by having clear objectives. There are some career skills that you need when investing, two of them is compassion and personal- control”, Egwim stated.
In her display, Adaora Obikili, Chapel Hill Denham’s Head Retail Strategy and Development, noted that beginning investors profit the most from the power of compound interest. “Saving at least three weeks worth of your money for rainy days is what it says. The best time to start saving and investing is monday, the second best time is today.”
Onome Komolafe, Divisional Head, Business Services and Customer Experience, described the Central Securities and Clearing System as the banks of the Nigerian investment market, citing the role of the market. It is responsible for keeping track of who owns what companies and making sure that everything is handled efficiently and safely when folks buy or sell stocks and other resources.