The Global Money Week is an annual global
awareness-raising initiative that emphasizes the importance of ensuring that
young people are financially literate through information, skills, attitudes,
and behaviors needed to make sound financial decisions and achieve financial
well-being.
This year, Junior Achievement Nigeria (JAN)
in partnership with the Banker’s committee celebrated the Global Money Week
with a 6-day long series of events and activities including the Financial
Literacy Day in select schools across the Nation. The program is designed in a
way that connects diverse financial institutions to Junior Achievement Nigeria
schools and leaders in these financial institutions serve as mentors to Junior
Achievement Nigeria students based on the financial literacy modules created by
Junior Achievement Nigeria.
The need for young people to have a
financially healthy mindset plays a pivotal role in helping them make smart
money decisions, especially one that makes a good outcome in the future. Today,
millions of adults live in debt and in extreme cases, abject penury due to
inability to make proper financial decisions. A recent data by Organisation for
Economic Co-operation and Development (OECD), reveals that a large number of
children do not understand the basics about money and the majority of youth is
not able to perform very simple calculations related to interest rates.
This partnership is expected to achieve the
ultimate goal of the Global Money Week by ensuring that children and youth have
access to high-quality financial education, learn about money matters and make
smart money decisions that can improve their financial well-being now and in
the near future.
Commenting on this year’s Global Money Week
celebration, the Executive Director, Junior Achievement Nigeria, Foluso
Gbadamosi said
“Raising children and youth to excel as
financially independent adults takes intentionality. As an organization aware
of this, every year the Global Money Week is one we look forward to and another
opportunity to invest in the lives of young people as we teach them how to
earn, save, invest and donate.”
“We appreciate the Central Bank of Nigeria
and Bankers’ Committee for partnering with us to grow a financially literate
generation, and also their commitment to help achieve the United Nations
Sustainable Development Goal 2030 focused on Quality Education and No Poverty”.