Financial literacy subject begins in secondary schools

Financial literacy subject begins in secondary schools

The Central Bank of Nigeria (CBN) has expressed joy at the approval of the Financial Literacy Curriculum at basic and senior secondary schools level.

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Speaking on the subject, which would commence at the beginning of the 2017/2018 academic year at the Financial Literacy Summit to commemorate the 2017 Global Money Week on Tuesday with the theme ‘Learn, Save, Earn’, the CBN governor, Mr. Godwin Emefiele, who was represented by Director, Human Resources, Mr. Edward Lamtek, said that the apex bank was currently developing a Teacher’s Guide to aid the teaching of financial education in formal school system.

Emefiele said, “This I hope will be one of my legacies to the youth and to the country as the CBN Governor,’’

The governor lamented the high rate of unbanked population in the country, adding that the CBN will continue to treat the issue of financial education with all required seriousness until financial services become affordable and accessible to the unbanked.

His word, “We are concerned about the level of financial inclusion because individuals and households lacking adequate access to a full range of responsibly delivered, affordable and convenient formal financial services would be severely constrained in participating fully in the economy.

“This will imply that the financial sector would be constrained in terms of expansion and intermediation as the disposable income in the hands of excluded persons could constitute greater savings and a wider deposit base for banks and other financial institutions.”

At the event were primary and junior secondary school pupils across Federal Capital Territory (FCT).

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