Financial Literacy: Stanbic IBTC, JAN Host MoneyBee Competition

A member of Standard Bank Group, Stanbic IBTC Holdings Plc, has partnered with Junior Achievement of Nigeria (JAN) to host the inaugural MoneyBee competition aimed at promoting financial literacy among secondary school pupils and in commemoration of this year Children’s Day celebration.

Chief Executive of Stanbic IBTC Bank Plc, Dr Demola Sogunle, urged Nigerian students to acquire financial literacy skills as this would lead to their financial freedom early in life and equip for the future. He insisted that the imperativeness of financial literacy among students cannot be over emphasized.

Mr Sogunle urged the students to “make sure that you learn something new in financial literacy for your personal growth.”

He said, “At Stanbic IBTC we have long identified education, a key pillar of our corporate social investment, as pivotal, along with financial literacy, to economic growth and development. Thus, we are always pleased to engage our future leaders to share financial literacy nuggets with them.”

The bank executive further said to share some success nuggets that would help the students excel in life which include: acquiring good education, discipline, volunteering and continuous self-improvement.

According to him, “education is important: I know that at a young impressionable age, schooling or getting an education might seem like a difficult chore. Some people might even tell you that it is not important, believe me- It is.

“Education gives you a competitive chance in life and a good education can open you up to a life of ease. Take your education seriously and make learning a priority.

“Education should not be limited to a schooling environment. Strive to take leanings from any environment you find yourself. Nothing you learn is wasted.”

On discipline, Mr Sogunle stated that discipline means “self-control, which is a sign of inner strength and control of yourself, your actions and reactions.”

“It gives you the power to stick to your decisions and follow them through, without changing your mind. If you must do things out of habit, make sure that the habit is one that you have built deliberately, is progressive and not destructive,” he added.

He stated further that, “You should also identify good role models and learn from them. A good mentor will help you achieve your goals faster because you will learn from their previous mistakes.”

Speaking on volunteering, he advised the students to sign up and take every good opportunity to volunteer- even for free, saying volunteering/apprenticeship is a smart way to gain experience and learn life lessons.

“It opens you up to the realities of life and gives you an opportunity to build your network. Volunteering for a good cause boosts your resume and gives you confidence in what you would have achieved,” he said.

While wrapping up his talks with the students, the top and successful banker charged them to “Never Stop Moving Forward: Always seek to improve yourself.”

He stressed that, “Life is a marathon not a sprint, you cannot afford to rest on your oars at any position you find yourself. You should keep moving, remain at whatever you are doing and keep in mind that continuous improvement is a sure way to being successful in life.”

In a similar vein, the Country Head Human Capital, Stanbic IBTC Holdings Plc, Ms Funke Amobi, stated that the essence of organizing the programme is to up skill students in secondary schools on financial literacy as regards information regarding the financial service institutions such as banking, pensions, insurance etc.

“We are doing this by quiz and competition, which is the way to test knowledge. This is the maiden edition and it will be an annual event,” she said.

A total number of 23 schools participated in the competition and two schools, Heritage Global Academy, Lagos and Canterbury International High School, Lagos emerged joint first place winners.

Educational Trust Account prizes worth N100,000 were given to each of the students who emerged first and second place winners, while the third place winner was given Education Trust prize worth N50,000.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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