Ecobank to Educate Nigerians on Survival Tips Amidst Rising Inflation
By Modupe Gbadeyanka
Many Nigerians are finding it difficult to cope with the rising cost of food items at the market because their sources of income have not been increasing commensurately.
In fact, some are struggling to put food on their tables as a result of this issue and in view of this, Ecobank Nigeria Limited is organising a webinar aimed to educate Nigerians on how to survive this trying period.
The bank said it would hold a digital conference as part of its commemoration of this year’s Workers’ Day and the event is tagged Inflation and Your Money – Our role As Your Bank.
In a statement, Ecobank said the webinar, slated for Thursday, April 29, 2021, will put participants through on how to manage the limited resources at their disposal as well as get tips on savings, borrowing, investments and how Ecobank can be useful to them.
Business Post gathered that interested persons would have to register ahead of the programme via https://bit.ly/3elcr5F to get the views of experts already invited for it, including Jimi Ogbobine, the Head of at Agusto Consulting Ltd; Fela Popoola, Managing Director of EDC Nigeria Limited; Daberechi Effiong, the Head of Consumer Products, Ecobank Nigeria, amongst others.
The Head of Consumer Banking at Ecobank Nigeria, Mrs Korede Demola-Adeniyi, stated that, “The webinar is bound to provide financial education and financial planning tips to our customers and every other participant.”
“Participants will be informed about relevant investment opportunities to create wealth and most importantly, how the bank can be useful to them at this time. It is important to make an informed decision regarding how to manage your money,” she added.
Though Nigeria recorded an early exit from the recession in the fourth quarter of last year, the effects of the COVID-19 pandemic have continued to impact negatively on the revenues of many corporate entities, businesses and income of individuals; noting that this development has been further compounded by inflation.
“Inflation rate has continued its upward trend to settle at about 18.1 per cent in March with prices of goods rising significantly in the last six months.
“This, in turn, has significantly reduced the disposable income and cash available to consumers.
“Consequently, as a bank set up to contribute to economic development, we thought it important to facilitate a discussion during this period of Worker’s Day, that will provide some guidance to our customers and the general public on how they can manage their cash and resources through rising inflation,” Mrs Demola-Adeniyi noted.