To level the 2024 Global Money Week, the Nigerian Exchange Limited held a conference 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.
The design of the 12th version of the world celebration is “Protect Your Money, Safe Your Future.”
In his pleasant target, the Acting Chief Executive Officer of the NGX, Jude Chiemeka, urged the kids to accept financial education and be aware that it is a longstanding venture.
He continued, “I think this concept has particular significance, 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. Our sincere hope is that the information gathered today may serve as a link for making wise financial decisions to safe and safeguard your future.
The famous quote from Robert Kiyosaki, the author of Rich Dad, Poor Dad, sums up the core of our meeting today: “Financial independence is accessible to those who learn about it and work for it,” Chiemeke continued,” Similar to the importance of financial education.
“In today’s dynamic and ever- changing economic landscape, these words ring truer than ever before. As we navigate the complexities of the financial world, it becomes more and more clear that financial literacy and prudent money management are necessary tools for achieving long-term financial security and prosperity.”
It’s not just about making money, the NGX boss believes, but knowing how to protect your money by recognizing the potential risks in the world and employing financial practices is essential for securing your future.
Being financially wise includes knowing things that can cause you to lose money, such as investing in wrong or illegal activities or not being careful when shopping online from promoted ads. You can lower risks and keep your money safe if you stay informed and seek advice from financial experts.
“When you’re just beginning your financial journey, navigational matters can sometimes seem overwhelming.” It is crucial to always remember that financial education is a lifelong journey, and it may take some time to get the hang of it. I want to let you know that the Nigerian Exchange Limited is there to help you every step of the way.
The Sabi Money Platform and how educational it is for students were also highlighted by Lanre Gbadamosi of the Central Bank of Nigeria’s Consumer Protection Department.
The Sabi Money Platform contains 15 series of financial literacy-related content, according to the authors. He said that financial planning must begin today and that it must begin with the children.
The founder and CEO of MinieMoney, Gbolahan Faniran, urged the students to take advantage of the symposium, saying,” Do not take it for granted. You cannot do that by being lackadaisical about financial literacy when we talk about protecting your money and securing your future.
Meanwhile, the Acting Executive Director of Junior Achievement Nigeria, Olaolu Akogun, expressed excitement at the opportunities available to the students via financial literacy.
“I think that the young people will be equipped with financial literacy skills with the programs today,” he said.
In his speech, Abimbola Babalola, the head of market surveillance for the NGX Regulation, made a point about how the Sura market in Lagos was built using funds from the capital market, and urged the students to profit from the symposium.
According to him, “Sura market was created using funds raised on the capital market, which is why we encourage local governments to enter the capital market.”
The investment of your money is the simplest way to protect it. Inflation will erode your money as you park it. So, investment is your best bet. If you want to protect your money, you must invest in assets. Financial assets are sold on the stock market. Going forward should change the way you see money. You can use it for either future use or investment.
“Money is no longer physical. The modern-day currency has been a part of your life. You don’t need to be brilliant to have ideas. Sit down and look for a fix for something if you discover it. The more problems you solve, the more value that you attract. Only the time invested has a bearing on the value. We must train ourselves to see opportunities. Also, deal with only market players who are licensed”.
The Chief Economist and Head of Economic Research/Intelligence at Coronation Merchant Bank, Chinwe Egwin, in her presentation, educated the students on the different economic terms and how it affects them.
“Attending events like this is the first step in ensuring your future. You can protect your money by having clear objectives. There are some life skills that you need when investing, two of them are patience and self- control”, Egwin stated.