A registered charitable organization known as Future Builder recently inaugurated its centre on Kairaba Avenue by the Pipeline Mosque.
The organization was established to carry out character/moral development education and financial literacy programme to teenagers and the youth to instill in them core ethical values as well to equip them with the knowledge needed to manage their finances in the future.
The inauguration programme attended by some heads of schools, took a form of presentation on character education and financial literacy.
Speaking to the gathering, Future Builder director Nwakanma Ife said the importance of financial literacy cannot be overemphasised.
She said the effort exerted on imparting such financial knowledge to the future leaders of this country is part of the school policy of 2004-2005.
She highlighted some of their targets for this subject of financial literacy as upper basic and senior school students, college students, employees, and individuals.
Financial and character education at early age is crucial for the development of the future generation, she said, adding: "We want to advocate for our children to spend money well, as the ability to manage money is a skills that need to be learned."
According to Director Ife, in Africa 25% of adults have bank accounts and 50% use no financial products at all.
"Lack of financial literacy is often tied to lack of access to financial products or failure to use them even when they are available," she stressed.
She went on to say that it is better to be financially literate before engaging in financial contracts.
She indicated that their training would help to make a better understanding of the concepts and products, protection against abuse and fraud, tighter budgetary control, among others.
Fola Saint, Programme coordinator, talked on wide range of issues on the importance of character development.
He said the development of ethical character virtues is the key to personal, academic and professional success in life.
Mr Saint also said the organization came to help students to teach them the core ethical values of building their character.
"To be somebody in life you have to have a good character," he added.