The MD of First Bank, Dr Adesola Adeduntan, has described Nigerians who save their money at home rather than bank as “economic saboteurs.”
Adeduntan stated this on Thursday in Calabar, the Cross River State capital at an event organised by First Bank to mark the 2017 Global Money week tagged “Earn, Learn, Save Money for Future Use.”
The MD who kicked against saving at home in his speech to students of St. Patrick’s college, Ikot-Ansa, which centred on Financial Literacy said it was capable of causing inflation in the country.
Speaking at the programme organised to educate the children age between 13-17 years with the knowledge of Financial Literacy and entrepreneurship, Adeduntan said, “The circulation of cash promotes business and a business-driven economy is the bedrock of the nation’s growth and development.
“It is tantamount to economic sabotage when individuals start hoarding money, thereby crippling businesses which depend on cash to strive.”