United Bank for Africa (UBA) said it has educated students of Olivet Baptist High School, Oyo State, on financial literacy as part of its plan to inculcate financial discipline among students across the country.
This, it added, was also to commemorate the World Savings Day held recently.
Mr. Ayoku Liadi, the bank’s Executive Director, Lagos and West while mentoring students in commemoration of World Savings Day, an initiative of the Central Bank of Nigeria (CBN) acknowledged that the future belongs to the children and that the government needs to invest in the education system to save for tomorrow.
“The Future belongs to children who realise early in life the need to save for tomorrow.”
Liadi, took the students through the benefits of savings, especially from a young age, harping on the need to be financially responsible. “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” he advised the students.
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. Ayoku 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.
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.