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Published On: Tue, Mar 18th, 2014

UBA GMD calls for financially smart kids

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By Etuka Sunday

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.

A statement by the Head, Media Relations, United Bank for Africa Plc, Ramon Nasir quoted the GMD as saying that, “Financially smart kids will become financially smart and wealthier adults.”

Oduoza while teaching students of Crowther Memorial College, Lokoja, Kogi State on financial literacy skills took them through the basics of savings, budgeting, pensions, insurance and investments.

He said, “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 every day. That is why the Banker’s Committee, with the Central Bank of Nigeria, decided to embark on this initiative.”

Oduoza also explained that UBA 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 the GMD for taking time off his very busy schedule to personally come to teach the students financial literacy

skills. He commended UBA, the Central Bank of Nigeria (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.

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.

Also speaking, Mrs Grace Elebiyo, the Commissioner of Education, Kogi State, commended UBA for coming to the school to educate the children on financial issues. He said that the initiative will have a long term impact on the wellbeing of the students in future.

 

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