The Group Managing Director of United Bank for Africa (UBA) Plc, Phillips Oduoza, has called on parents to ensure that their children become financially smart at an early age, stressing that “Financially smart kids will become financially smart and wealthier adults.”
Oduoza who gave the advice while lecturing students of Crowther Memorial College , Lokoja, Kogi State , financial literacy skills, took students through the basics of savings, budgeting, pensions, insurance and investments.
“When we were growing up, no one thought us about money. We were thought biology, physics chemistry, economics, but nothing about money. Yet we all grow up realizing money is something we have to deal with everyday. That is why the Banker’s Committee, with the Central Bank of Nigeria decided to embark on this initiative.” Oduoza said.
The UBA boss also explained that the decided to come all the way to Lokoja to carry out its financial literacy training because it realizes such education should not be restricted to students in the big cities only.
He advised the students to take an interest in knowing about money as it will make them better adults in future.
Also speaking at the occasion, Captain Idris Wada, the Governor of Kogi State, commended Oduoza for taking time off his very busy schedule to personally come to teach the students financial literacy skills and commended UBA, the CBN and the Bankers Committee for taking on the initiative of introducing students to financial concepts.
“There is no doubt that this initiative will create a generation of adults who will have a better understanding of money, how to make money and most importantly, how to manage it.” The Governor said.
The governor explained that he personally attended the training because of the priority his government places on education. “As a government, we have three priorities; education, education, education.” He also commended UBA for selecting Lokoja, “Nigeria’s historic capital,” to host the event.
He disclosed that UBA’s contribution to education development in the state has been significant and called on other financial institutions in the state to contribute to the economic development of the state
He noted that what the UBA is doing will make children better managers of money in future and contribute to economic development.
Earlier, Ijeoma Aso, the MD/CEO, UBA Foundation, donated several copies of literature books to Crowther Memorial College under the UBA Foundation Read Africa Initiative.
She asked the students to ensure that they read at least one book a month, so that they will read a minimum of 12 books in a year.
Grace Elebiyo, Kogi State commissioner education, commended UBA for coming to the school to educate the children on financial issues adding that the initiative will have a long term impact on the well being of the students in future.
She advised that the students to imbibe the culture of savings and investing at an early age, even as she called on the bank to spread financial literacy education to all schools in the state so that more students will be exposed to financial knowledge while requesting that UBA collaborate with the State in developing a financial literacy curriculum for schools.
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