Global Money Week: CBN Empowers Young Nigerians on Financial Security Skills

CBN Headquarters

Global Money Week: CBN Empowers Young Nigerians on Financial Security Skills

The Central Bank of Nigeria (CBN) on Tuesday urged young Nigerians to develop sound financial habits to become financially resilient and enhance their future wellbeing.

Deputy Governor, Financial System Stability, Mr. Philip Ikeazor, made the remark at the 2024 Global Money Week (GMW) organised by the apex bank in Abuja with the theme “Protect Your Money, Secure Your Future.”

Mr. Ikeazor said the annual global event aims to empower young people to make sound financial decisions, build financial resilience, and secure a brighter future.

He emphasised Nigeria’s participation since 2013, showcasing the country’s commitment to financial education for the younger generation.

Ikeazor, who was represented by Acting Director, Consumer Protection Department, Mr. Nuhu Othiniel, stressed that the theme underscores the crucial role financial education plays at a young age. He added that equipping young people with the right skills now will enable them to achieve financial independence and a secure future.

The Deputy Governor stressed that simply earning money doesn’t guarantee financial security. However, with skills to identify and avoid scams, promote saving habits, and encourage responsible investing, they can build a financially secure future.

“Financial decisions you make today and the financial education you acquire will have a significant impact on your future. By learning these skills early and practicing them consistently, you can build a brighter financial future,” he noted.

This also implies knowing how to report to a bank if you encounter scammers or fraudsters. In essence, your financial decisions and education today have a huge impact on your future.

He encouraged the students to embrace the GMW theme, actively participate in the programme, and begin planning for their desired future.

Mr. Ikeazor concluded his speech with a proverb: “The art is not in making money, but in keeping it.”