Financial Literacy Will Trigger Economic Growth—Banker

By Aduragbemi Omiyale

A senior banker, Mrs Nneka Onyeali-Ikpe, has re-echoed the importance of financial literacy to a nation, emphasising that it could trigger economic growth.

Mrs Onyeali-Ikpe, who is the Managing Director/CEO of Fidelity Bank Plc, said children should be exposed to financial literacy early so as to produce adults that are financially independent.

Speaking recently at the Bestline Distinct College in Ado-Ekiti, the Ekiti State capital, she said the bank has taken this as one of its Corporate Social Responsibility (CSR) strategies.

The MD/CEO said Fidelity Bank will not relent in its efforts to actualise the federal government’s financial inclusion objectives by enabling more young Nigerians, particularly those in underserved communities, to participate in the formal banking system.

The lender, to celebrate the annual Global Money Week (GMW) of the Central Bank of Nigeria (CBN), tutored about 4,000 students in 36 schools across Nigeria on the value of managing financial resources effectively in order to improve their economic well-being.

The theme of this year’s GMW, Build your future, be smart about money, emphasises the importance of ensuring that young people are financially conscious from an early age.

It also aims to ensure that they gradually acquire the knowledge, skills, attitudes, and behaviours required to make sound financial decisions, achieve financial well-being, and develop financial resilience.

At the Bestline Distinct College, Mrs Onyeali-Ikpe, who was represented by Mr Ayoola Alabi, Regional Operations & Service Supervisor (ROSS) for South-West 2, Fidelity Bank Plc, stated that, “Our children are the future and sharing such information with these young ones will help them develop into better adults. It will give them the ability to plan for their financial independence.

“For us as a bank, education and youth empowerment are major pillars of our Corporate Social Responsibility (CSR) strategy. We are always searching for opportunity to give back to communities where we operate.”

In his remarks, the Proprietor of Best Distinct College, Mr Omodara David, stated that the program would broaden the minds of both students and teachers for the future.

“The knowledge gained here will make them successful in the future. What I have learnt has opened my eyes. Immediately after the program, I will open accounts in the bank and allow Fidelity to manage the school’s account,” he said.

On his part, the senior prefect of Best Distinct College, Master John Chinmaya, thanked Fidelity Bank for the lecture, noting that it will teach students how to save, budget, and bank properly to save for the future, as well as assist them financially and academically.

“We are going to tell our parents about the things we learnt here today and it will surely be beneficial to them,” he assured.