7 November 2017

Nigeria: FCMB Charges Youths to Save for the Future

First City Monument Bank (FCMB), has tasked youths in Nigeria to key into the financial system by adopting savings culture and other financial management techniques that would help secure their future.

The Bank made the clarion call at an outreach programme it organised for thousands of students in thirty secondary schools spread across the six geo-political zones in Nigeria, to commemorate this year's World Savings Day on October 31.

The educative mentoring sessions, which are in line with FCMB's Corporate Social Responsibility (CSR) and sustainability philosophy, were anchored by top executives of the Bank in 30 schools.

This is the second consecutive year the lender is carrying out this exercise in partnership with the Bankers' Committee of the Central Bank of Nigeria (CBN), under the theme, "Learn, Earn, Save". Last year, FCMB executed a similar programme in twelve schools nationwide.

The World Savings Day is aimed at teaching and reinforcing the key fundamentals of financial literacy, savings culture as well as entrepreneurial skills in the youth. This is part of the Bank's strategic contributions towards securing the future of young Nigerians by encouraging the adoption of savings and other financial management techniques at an early age to enhance their general wellbeingg.

Speaking during the mentoring session for students of the Holy Child Girls College, Calabar in Cross River State, FCMB's Manager, Calabar Road Branch, Charles Emefiele, said imbibing financial principles at an early age will go a long way to help students and youths manage their resources effectively. It will also help them appreciate how money works, and how it can be channeled to productive ventures now and in the future.

"When you regularly put aside a portion of the money you are given or earn in a safe place that pays interest, this is what is known as savings. Saving money from early age guarantees financial independence, prudent management, planning and overall success of individuals and society," he explained.

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