First Bank MD urges Nigerians to desist from home banking

Dr Adesola Adeduntan, Managing Director of First Bank Nigeria has advised Nigerians who have resorted to home banking to cultivate the habit of saving their monies in the conventional bank for future use.

Adeduntan gave the advice on Thursday in Calabar while educating students of St. Patrick’s College, Ikot-Ansa, on “Financial Literacy’’.

It was reported that the programme is part of the bank’s activities to mark the 2017 Global Money week tagged; “Earn, Learn, Save Money for Future Use.’’

The managing director said that bank, as a financial institution, was saddled with the responsibility of managing and saving monies for individuals, the three tiers of government and corporate organisations, among others.

He said that if individuals and corporate organisations failed to save their monies in the bank, the situation could cripple businesses and cause major inflation in the nation’s economy.

“The circulation of cash promotes business and a business-driven economy; it is the bedrock of the nation’s growth and development.

“It is tantamount to economic sabotage when individuals start hoarding money, thereby crippling businesses which depend on cash to strive,’’ he said.

He said that the programme was organised to educate the children between 13 years and 17 years with the knowledge of financial literacy and entrepreneurship.

According to him, the bank has sent delegation to 30 schools across the six geo-political zones of the country to empower the students with requisite knowledge on financial literacy.

He advised the students to make good use of the entrepreneurship centre in the school, with a view to acquiring skills that would make them self reliant after school.

“The 2017 edition of educating students on Financial Literacy is designed to reach out to about 3,000 students in 30 locations across the six geo-political zones in Nigeria.

“Since its establishment in 1894, First Bank has consistently built relationships with customers, focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership.’’

In his remarks, the Principal of the school, Rev. Fr. Christopher Okon, thanked the bank for choosing the school to benefit from the Financial Literacy Education.

Okon appealed to the bank to partner with the school in infrastructure development, scholarship for students, teachers’ welfare and teaching aid.