Fidelity Bank Moves To Boost Economic Growth

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Fidelity Bank Plc has stated that it would continue to promote financial literacy among youths as part of its commitment towards deepening the economy. In line with this, the bank said it would partner the Central Bank of Nigeria to introduce financial literacy as a subject in the curriculum of schools across the country.

The Managing Director and Chief Executive Officer, Fidelity Bank, Mr. Nnamdi Okonkwo, stated this at the Financial Literacy Day programme organised in conjunction with the Junior Achievers for students of Day Waterman College Abeokuta, Ogun State. Okonkwo, who was represented by the Chief Compliance Officer of the bank, Mr. Adeboye Ogunmolade, commended the CBN for mobilising stakeholders towards ensuring that financial literacy become part of the curriculum in schools.

A statement by the lender quoted him as assuring the regulatory agency that Fidelity Bank would make its input in making the project a reality. According to him, as a commercial bank with physical presence and Automatic Teller Machines in many educational institutions, it will take interest in projects which have the objective of teaching students financial education and literacy.

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The Fidelity Bank boss said, “For a start, we must emphasise and give credit to the Central Bank of Nigeria. It is the initiator and the champion of this agenda. The CBN is now mobilising all stakeholders, including even the Federal Ministry of Education to incorporate this financial literacy project as part of the curriculum of the students. “So, as far as we are concerned in Fidelity Bank and in the industry, we are willing and prepared to partner the CBN to go the whole hog.

As I said earlier, our products for students are second to none and we know there is hardly any higher institution in Nigeria where we don’t have our physical presence and even our ATM galleries. So, we know the importance of this programme and as I’ve said we’ll partner the CBN, apart from the things we are doing, we’ll also support them in every aspect to make sure that this project is a success.” He said that the financial literacy day would enable the students to learn and imbibe early in life the culture of saving for the future. Okonkwo noted that being students should not exclude the younger ones from having deep knowledge about banking, investment and finance. He stressed that the bank had a range of banking products for school age children.

The Principal, Day Waterman College, Linda Potticary, said it was imperative that children should be educated about finances and savings culture at a tender age. Potticary added that the youth as the future leaders of the country, who would manage the nation’s economy in the near future, should be financially literate. “Throughout your entire life, probably by the age of ten, you need to know about money because the whole world runs on money and if you are not able to manage your own money and understand the importance of it, then you are not going to have a secure future; It’s really key,” she said. “This is the economy in which they are going to be fitting in as adults and if we don’t prepare them for that economy, if we don’t prepare them for that age, then we are not doing a good job,” she added.