The Nigerian Exchange Limited (NGX), Central Bank of Nigeria (CBN), and other stakeholders in the capital market recently organized a symposium in Lagos to improve the financial literacy of students in celebration of the 2024 Global Money Week.
Global Money Week is an annual campaign that aims to raise awareness about the importance of financial education for young people.
It emphasizes the need for young individuals to develop the knowledge, skills, attitudes, and behaviors required to make informed financial decisions and achieve financial well-being and resilience.
The theme for the 12th edition of the Global Money Week is “Protect Your Money, Secure Your Future.” The event was hosted in partnership with Chapel Hill Denham, Coronation Group, Central Securities and Clearing System Plc, and Miniemoney.
During the symposium, Jude Chiemeka, the Acting CEO of the NGX, encouraged students to embrace financial literacy as a lifelong journey. He emphasized the significance of the theme, especially for young individuals who are laying the foundation for their future.
The event aimed to cultivate a community of financially literate future leaders who can make informed financial decisions. Chiemeka assured the students of the Nigerian Exchange Limited’s support in their financial literacy journey.
Lanre Gbadamosi from the Consumer Protection department at the CBN highlighted the ‘Sabi Money Platform’ and its educational resources for school children. He stressed the importance of starting financial planning early.
Chinwe Egwim, Chief Economist at Coronation Merchant Bank, educated students on economic terms and their impact. She emphasized the importance of setting clear financial goals and developing life skills like patience and self-control for successful investing.
Adaora Obikili from Chapel Hill Denham discussed the benefits of early investing and the power of compound interest. She encouraged students to start saving and investing as soon as possible.
Onome Komolafe, Divisional Head at the Central Securities and Clearing System, explained the role of CSCS in the market as the custodian of stock ownership records.
She highlighted the importance of ensuring smooth and secure transactions in the stock market.
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Overall, the symposium was a valuable opportunity for students to enhance their financial literacy and gain insights into responsible money management.
The collaboration between CBN, NGX, and other partners underscores the commitment to empowering young individuals with the knowledge and skills needed for financial success.
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