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CBN Tasks Students On Savings

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The Central Bank of Nigeria (CBN) has promised to continue to create awareness in Nigerian schools to enable students and the general public imbibe the habit of saving money.

The branch controller in Umuahi, Abia State Agua Veronica made the pledge in Umuahia on the occasion of special lecture on savings to mark the 2016 World’s Saving Day held at community secondary school Isingwu Ohuhu in Umuahia north Local Government Area of Abia State.

Aqua represented by an executive of the bank in Umuahia, Richard Alphonse said the world’s saving day was established on the October 31, 1924 during the first international savings bank congress in Italy and in 2014, Nigeria participated actively in marking the event through a monitoring programme in various schools across the six geo political zones of the country.

She said the overall aim was to highlight the importance of savings and to encourage it in the formal financial system.
“The aim of WSD was to stress the relevance of savings to modern economies and for individuals,” she said.

In her lecture, the CBN Director Consumers Protection Department in Umuahia, Georgina Nwankwo said to ensure that the spirit of saving is imbibed by all, the CBN in collaboration with the financial sector regulation have to amount awareness campaign.

“In view of the above, the consumer protection department of the Central Bank of Nigeria in collaboration with the financial sector regulations; the bankers committee, microfinance banks and institutions, various non governmental organizations and other stakeholders are commemorating this global event to raise awareness on the importance of savings by implementing an outreach monitoring programme in over 200 schools spread across the six geopolitical zones in Nigeria”.
She advised the students to start now to know how to save money in the bank.

Earlier in her address, the principal Community Secondary School Isingwu Mrs. J. Imediegwu thanked the CBN management for choosing her school as one of the Pilot Secondary Schools for the programme and to educate students and Nigerian youths on gains of saving.
She called on all well meaning sons of Abia to come to the aid of the school to halt further infrastructure decay.

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