By Dipo Olowookere
Last week, one of the leading financial institutions in Nigeria, United Bank for Africa (UBA) Plc, marked the World Savings Day with some students in Oyo State.
The programme is aimed at promoting financial literacy among young school children in Nigeria, an initiative the Central Bank of Nigeria (CBN) has told banks in the country to embrace.
UBA’s Executive Director, Lagos and West, Mr Ayoku Liadi was at the Olivet Baptist High School in Oyo to mentor and teach the students on the benefits of inculcating financial discipline.
Mr Ladi noted that, “The future belongs to children who realise early in life the need to save for tomorrow,” pointing out that “to develop a savings culture, one needs to be financially responsible and prudent in management of resources, set realistic timelines for saving and resist the temptation to spend frivolously.”
During his lecture, he highlighted the numerous benefits of savings, especially from a young age, harping on the need to be financially responsible.
UBA Foundation has been in the vanguard of promoting reading culture among secondary school children.
In doing this it provides literature books to the students at no cost to them, regularly gets executive management staff of UBA to go to schools to read with the students and mentor them on the benefits of reading.
In furtherance of this initiative, Mr Ladi, on behalf of UBA Foundation, donated textbooks and other educational gifts to the students of the school, while encouraging them to participate in the on-going UBA Foundation National Essay Competition for Senior Secondary Schools.
Vice Principal, Administration, Olivet Baptist High School, Mr Tunde Sulola commended UBA for the initiative, describing the programme as laudable and wonderful.
“It is an eye opener. Apart from the students, some of us that are teachers too have been appropriately exposed to the tenets of savings. Our students will go back home and inform their parents on the need for them to begin to save early. As for the teachers, we have been lifted and we will pass the message to our children when we get home,” he said.
Mr Sulola further commended the bank for its contribution to development of education in Nigeria with UBA Foundation’s National Essay Competition for Senior Secondary School Students and Read Africa Project.
