German agency trains Nigerians on financial literacy

The German Development Cooperation, Deutsche Geselischaft for Internationale Zusammenarbelt (GIZ)
The German Development Cooperation, Deutsche Geselischaft for Internationale Zusammenarbelt (GIZ)

A total of 24 Nigerians have been re-equipped with financial literary skills as part of the ‘Pro-Poor Growth and Promotion of Employment in Nigeria Programme’ supported by Germany.

The training programme, which held in Abuja on Wednesday, had participants drawn from across the country.

It was commissioned by the German Federal Ministry of Economic Cooperation and Development (BMZ) and implemented by the international development agency, GIZ.

Speaking at the programme, GIZ’s head for access to finance work, Dennis Fischer, said “there is need to build the capacity of economically active population

“They need to have financial confidence. We hope to make positive impact on Nigeria and facilitate access to finance.”

The objective is to improve access to financial services and to build financial competencies of owners and employees of micro, small and medium-sized enterprises as well as other economically active segments of the Nigerian society, with a focus on the special needs of women and the youth, said GIZ.

It said the programme had helped enhance the financial capabilities of nearly 60,000 beneficiaries, with 40 per cent of them being women.

This number has been reached largely through partners who helped transfer financial literacy skills to their target groups across the country.

A participant, Jenifer Ero, said the agency was helping to promote financial freedom.

“When you give people vocational training without financial literary training, then you have not done a good job,” she said, adding that vocational training and financial training would liberate people.

On his part, Adamu Usman said the training exposed him to saving for pensions.

The intervention was in line with Nigeria’s financial inclusion strategy and involved collaboration with the country’s central bank, youth affairs ministry, and civil society organisations.

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