Polaris Bank CEO, Innocent C. Ike, has highlighted the need for young people in Nigeria to imbibe the culture of saving money early in life to enable them secure their future.
Ike gave this advice in a virtual presentation while addressing students of Adeleke University High School, Ede, Osun State on March 25 to mark this year’s Global Money Week, event hosted by Polaris Bank Limited.
The school was adopted by Polaris Bank to mark this year’s Global Money Week.
This year’s event was aimed at raising awareness on the importance of saving and need for young ones becoming financially aware at an early age.
The top Banker expressed concern and warned on the consequences of poor savings culture on young people with no savings or financial investment, even as he assured that Polaris Bank would continue to sustain efforts aimed at promoting financial literacy among youths in particular and Nigerians in general.
According to Ike: “We need to learn, save and earn money.
“You do not save after spending, but rather you save first before spending.
“The idea is to ‘catch them young’ by educating them on finance and financial investment so that in future, their personal and financial lives can be guaranteed.
“To achieve this, we need to imbibe the culture of saving, no matter how small.”
Ike further explained that the financial sensitisation campaign is part of the activities of the Global Money Week, an annual programme organised in conjunction with the Central Bank of Nigeria in partnership with an NGO, Junior Achievement Nigeria, to raise awareness and sensitise students on the need to be financially independent.
The Polaris Bank Acting Managing Director said: “Although it is an annual event, for us at Polaris Bank, we will continue to engage schools, parents and teachers because we believe that by being financially literate, students and indeed the young ones, will be able to build their capacity for future business endeavours, thereby securing their future from poverty and other financial challenges.”
Ike stated confidently that Polaris Bank, the CBN and the entire players in the banking sector are ready to carry out enlightenment on a continuous basis, educating and teaching students on how to manage money that comes into their hands.
After the presentation, a brief Question and Answer Session followed, where an obviously elated Principal of the School, Dr. Adetayo Timothy, while responding after the over two hours, 30 minutes’ session, said knowledge is power and applauded the presentation by Polaris Bank MD, which he believes “has undoubtedly empowered these young students on the fundamentals of saving, earning and investment”.
Timothy said: “You would not realise the quantum of financial knowledge Polaris Bank has shared with these students this morning until they put to practice everything they have been exposed to and see the impact in their lives in the days ahead.
“We cannot thank Polaris Bank enough; your coming to our school today has created an image within this community and beyond that you are indeed, a bank that does not shy away from its Corporate Social Responsibilities.”
Polaris Bank is a future-determining bank committed to delivering industry-defining products and services across all sectors of the Nigerian economy.