CBN seeks teaching of financial literacy in Nigerian schools

CBN says it is committed to enhancing the financial literacy of Nigerian youths.

The Central Bank of Nigeria, CBN, on Wednesday said it would partner the Federal Ministry of Education to develop a financial literacy curriculum.

The Director, Consumer Protection Department of the bank, Umma Dutse, 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 said the overarching 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.

Ms. Dutse said another strategy of addressing financial literacy was to develop school reach out programme, which aims at promoting interaction among school children.

She identified others as business plan development competition among public schools, financial literacy fair and exhibition.

The director noted that the business plans were being organised by the bank in conjunction with other stakeholders.

(NAN)


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