Nigeria’s apex bank, Central Bank of Nigeria, CBN, said it would partner with the Federal Ministry of Education to develop a financial literacy curriculum.
The Director, Consumer Protection Department of the bank, UmmaDutse, said this at a news conference in Abuja.
Ms. Dutse said the bank would also collaborate with other relevant stakeholders to develop the curriculum that would be adopted at all levels of the educational system.
“The curriculum, which is expected to be developed before the end of this year, will articulate appropriate financial topics that will be taught in schools.
“This will improve the financial literacy levels of the students,” she said.
Ms. Dutse said the bank was committed to enhancing the financial literacy of Nigerian youth, to achieve a robust financial inclusion in the country. She added that enhancing the financial literacy was also an effort in ultimately attaining the objectivity of the Financial System Strategy by 2020.
She said that the bank would further develop the Financial Literacy Framework that would provide a roadmap for promoting financial literacy, with emphasis on specific target groups.
“It is crucial to state that the major target groups in the framework are the youth owing to their predominance in the financial literacy chain,” she said.
Ms. Dutse stated that the over arching philosophy behind the framework was the use of a structured approach to educate the youth. She said the strategy includes publication of financial educational resources such as 101 ways to save money and how to lodge a complaint.
She also added that another strategy of addressing financial literacy was to develop school reach out programmes, which aim at promoting interaction among school children.
She identified others as business plan development competitions among public schools,financial literacy fairs and exhibitions.
The director noted that the business plans were being organised by the bank in conjunction with other stakeholders.
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This article was first published on 29th May 2014
Comments (1)
Nigeria’s apex bank, Central Bank of Nigeria, CBN, said it would partner with the Federal Ministry of Education to develop a financial literacy curriculum.
The Director, Consumer Protection Department of the bank, UmmaDutse, said this at a news conference in Abuja.
Ms. Dutse said the bank would also collaborate with other relevant stakeholders to develop the curriculum that would be adopted at all levels of the educational system.
“The curriculum, which is expected to be developed before the end of this year, will articulate appropriate financial topics that will be taught in schools.
“This will improve the financial literacy levels of the students,” she said.
Ms. Dutse said the bank was committed to enhancing the financial literacy of Nigerian youth, to achieve a robust financial inclusion in the country. She added that enhancing the financial literacy was also an effort in ultimately attaining the objectivity of the Financial System Strategy by 2020.
She said that the bank would further develop the Financial Literacy Framework that would provide a roadmap for promoting financial literacy, with emphasis on specific target groups.
“It is crucial to state that the major target groups in the framework are the youth owing to their predominance in the financial literacy chain,” she said.
Ms. Dutse stated that the over arching philosophy behind the framework was the use of a structured approach to educate the youth. She said the strategy includes publication of financial educational resources such as 101 ways to save money and how to lodge a complaint.
She also added that another strategy of addressing financial literacy was to develop school reach out programmes, which aim at promoting interaction among school children.
She identified others as business plan development competitions among public schools,financial literacy fairs and exhibitions.
The director noted that the business plans were being organised by the bank in conjunction with other stakeholders.
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This is a very proactive initiative from the mother of the Nigerian Banks. I can’t expect less.
I have a very strong passion for such advocacy. In fact, I have been running a crusade on that via my SAMTRIX School of Money in the rural areas of Oyo town and its environment.
I am now about to start a Ph.D on Media in Education with focus on Financial Education Media in Nigeria.
I will be very glad to work with the CBN on this project. I know my research will go a long way in generating viable facts and figures that could be used in determining how to go.