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CBN Wants Financial Literacy Education Introduced Into Schools Curriculum

The Central Bank of Nigeria, CBN said that financial literacy education will be introduced fully into the school curriculum in the next two years. Speaking at a symposium orgainsed by the Ajapa World in Lagos,the Head, Consumer Protection Department, CBN, HajiaKhadijahKassim, noted that financial literacy has become a major subject to be taught in Nigerian schools.
She said,“We have started the development of financial literacy into the school curriculum and we are believing that in the next two years, we are going to have financial literacy being taught in the school system, the basic and the senior secondary school levels.” She explained the need for Nigeria to latch on to the drive of financial literacy overtaking the world as this ultimately leads to the secure wellbeing of each financially literate individual, society and nation.
According to her, the CBN has developed a financial literacy framework which is going to give the direction as to how financial literacy is going to be taught across Nigeria. “That document is the blue print for how the Ajapa World’s, the media, the teachers, the institutions would become a stakeholder in ensuring that every Nigerian including the children are financially literate” she stated “In the world over, there is a new drive for everybody to be financially literate, unless you are financially literate you cannot take decisions that will ultimately lead to your financial wellbeing, every child that goes to school will have the opportunity to become financially literate,” she added. Kassim stressed that unless you teach a child how to save, then you would not want him to be included, because a child should know why he should save and then you can bring the children into the formal financial system.
Meanwhile, Ajapa world has initiated plans to establish the teaching of children and youths the fundamental financial habits, through mentoring on financial awareness, knowledge of entrepreneurship skills and encouraging a saving culture. The founder of Ajapa World, Mr. Akin Braithwaite, pointed out that 45 percent of the Nigerian population are children and there is no way we are going to solve the poverty issue in Nigeria, unless the children are taught on how to raise themselves out of poverty. “We believe that children should be taught how to earn money at a young age and when they do that, they will no longer be a burden both on themselves and the society, and we believe that this could help them build their future if you teach them at a younger age, it becomes a habit to help them to grow and they start spending wisely,” he added.

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