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In observance of the 2024 Global Money Week, the Nigerian Exchange Limited (NGX), in conjunction with the Central Bank of Nigeria (CBN) and other stakeholders in the capital market, organized a symposium aimed at boosting financial literacy among selected students in Lagos.
Global Money Week (GMW) serves as an annual global campaign, emphasizing the importance of instilling financial awareness in young individuals from an early age. It underscores the significance of equipping them with the requisite knowledge, skills, attitudes, and behaviors to make informed financial decisions, thereby fostering financial resilience and well-being.
The theme for this year’s global event, now in its twelfth edition, is “Protect Your Money, Secure Your Future.”
The symposium, orchestrated by Chapel Hill Denham, Coronation Group, Central Securities Clearing System Plc, and Miniemoney in collaboration with the CBN and NGX, saw Acting CEO of NGX, Jude Chiemeka, delivering an encouraging address to the students. He stressed the importance of embracing financial literacy as a lifelong commitment, particularly for young individuals who are laying the groundwork for their future.
Chiemeka highlighted the theme’s relevance, emphasizing that it is indispensable for students as they embark on their journey toward shaping their lives and securing their financial futures. He emphasized that financial literacy and prudent money management are not merely desirable traits but essential skills for achieving long-term financial security and prosperity, given the intricacies of the financial landscape.
“It’s not just about earning money; safeguarding your finances by understanding potential risks and employing sound financial practices is crucial for securing your future,” he remarked. “Identifying factors that could lead to financial losses, such as investing in dubious ventures or being cautious while making online purchases, is also part of financial acumen. By staying informed and seeking advice from financial experts, you can mitigate risks and protect your finances.”
Chiemeka reiterated NGX’s commitment to supporting students every step of the way as they embark on their financial journey.
Representing the Central Bank of Nigeria’s Consumer Protection department, Lanre Gbadamosi underscored the educational value of the apex bank’s “Sabi Money Platform” for students. He emphasized the need for financial planning to commence early, with children being encouraged to utilize the platform’s array of financial literacy resources.
Adaora Obikili, Head of Retail Strategy and Development at Chapel Hill Denham, emphasized the significance of early investments and the benefits of compound interest. She emphasized the importance of saving and investing from an early age, stating, “Saving a portion of your income, at least three months’ worth, prepares you for unforeseen circumstances. The best time to start saving and investing is yesterday, and the next best time is today.”
The symposium served as a pivotal platform for instilling financial literacy among students, equipping them with essential skills to navigate the financial landscape effectively and secure their financial futures.
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