The CBN Governor, Mr. Lamido Sanusi, has kick-started the financial literacy programme in schools.
The programme provided Sanusi the opportunity to deliver a lecture on the importance of savings and investment to pupils of four secondary schools located in Abuja.
The schools are Model Secondary School, Maitama; Senior Secondary School, Jikwoyi; Senior Secondary School, Karu; and Government Secondary School, Kuje.
The CBN boss urged the pupils to be prudent in the management of their finances, adding that rather than spend their money on luxurious items, such should be kept in a savings account to yield interests.
He said, “Money is not an end in itself but you need money to do a lot of things. You should not borrow for the purpose of spending; rather, you can borrow to enable you invest. When you earn an income, the first thing you do is to pay yourself by setting aside at least 10 per cent as savings before using the remaining money to pay for other transactions.
“If your uncle or any other relation gives you money, since the money is not expected, you should save it in a bank for it to yield interest after a period of time.”
Earlier, the Director, Federal Capital Territory Secondary Education Board, Mrs. Yelwa Baba-Ari, described the session as a life changing occasion for the pupils.
She said, “The impact of this programme cannot be underestimated as our pupils require a lot of mentoring, motivation and inspiration.
“This opportunity provided by the CBN and the person of the governor is certainly going to be a life changing experience for these future leaders of this great nation.”
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