International Cash Week: Nigerian college students urged to embrace monetary literacy

International Cash Week: Nigerian college students urged to embrace monetary literacy

Nigerian college students have been urged by the Appearing Chief Govt Officer of the Nigerian Alternate Ltd (NGX), Mr. Jude Chiemeka, to embrace monetary literacy, which is a helpful ability of their life.

Chiemeka mentioned at a symposium to mark the 2024 International Cash Week (GMW), organized by the NGX, the Central Financial institution of Nigeria and different capital market operators to spice up the monetary literacy degree of the scholars in Lagos that “the theme holds explicit significance, particularly for younger people like yourselves, who stand at a pivotal juncture in laying the groundwork that can in the end form the trajectory and high quality of your lives a decade or extra from now”.

He said that the occasion represents a big step in our ongoing dedication to cultivating a group of financially literate future leaders who possess the data and expertise to make well-informed monetary selections by way of the array of monetary literacy assets at their disposal.

“As we navigate the complexities of the monetary world, it turns into more and more evident that monetary literacy and accountable cash administration will not be simply fascinating traits however important instruments for attaining long-term monetary safety and prosperity.

“I wish to guarantee you that the Nigerian Alternate Restricted is right here to assist you each step of the way in which,” Chiemeka mentioned.

In his speech, Mr. Lanre Gbadamosi of the Shopper Safety division on the Central Financial institution of Nigeria, highlighted the ‘Sabi Cash Platform of the apex financial institution and the way educative it’s for varsity youngsters.

“Sabi cash platform is a platform the place we’ve packaged 15 collection of monetary literacy subjects. Monetary planning has to start out immediately and it has to start out with you the kids,” he mentioned.
In her presentation, the Chief Economist and Head of Financial Analysis/Intelligence at Coronation Service provider Financial institution, Chinwe Egwim, educated the scholars on the totally different financial phrases and the way phrases have an effect on them.

“Step one for securing your future is attending occasions like this. Having clear objectives can assist you defend your cash. There are some life expertise that you simply want when investing, two of them is endurance and self-control,” Egwim said.

Adaora Obikili, Head Retail Technique and Improvement, Chapel Hill Denham famous in her presentation that early starters in investing profit essentially the most from the facility of compound curiosity. “Saving a portion of your revenue (at the least 3 months price) prepares you for the wet days. The perfect time to start out saving and investing is yesterday, the subsequent greatest time is immediately.”

Stating the function of the Central Securities and Clearing System available in the market, Ms Onome Komolafe, Divisional Head, Enterprise Providers and Buyer Expertise (CSCS) defined that CSCS is just like the financial institution for the Nigerian inventory market. It’s accountable for preserving observe of who owns what shares and ensuring that when individuals purchase or promote shares and different property, every little thing will get dealt with easily and safely.

The GMW is an annual world awareness-raising marketing campaign on the significance of making certain that younger individuals, from an early age, are financially conscious, and are progressively buying the data, expertise, attitudes and behaviours essential to make sound monetary selections and in the end obtain monetary well-being and monetary resilience.

“That is the twelfth version of the worldwide celebration with the theme Defend Your Cash, Safe Your Future. Chapel Hill Denham, Coronation Group, Central Securities and Clearing System Plc and Miniemoney partnered with the CBN and the Alternate to host the occasion,” the assertion by the NGX in Lagos mentioned.

GIK/APA

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