CBN is introducing financial literacy into secondary school subjects

A new program is about to be introduced into the secondary school curriculum and its all about helping Nigerian students to make good decisions about money.

The Central Bank of Nigeria has announced its partnership with the Nigeria Education Research Development Council (NERDC) to introduce financial literacy into the secondary school curriculum.

The CBN Director of Consumer Protection Department, Mr Kofo Abdulsalam-Alada, made the announcement while speaking at a during a school mentoring programme at the Victory College, Ikare-Akoko, Ondo State.

Kofo said, “We are collaborating with the Nigeria Education Research Development Council to design a curriculum that will ensure that financial literacy is actually infused into subjects taught in secondary schools in Nigeria.

“A series of workshops and pilot testing of some of the designed programmes have been carried out in Lagos. Within the current school calendar year, infusion into the system should commence in subjects like accounting, economics and commerce in order to give the children knowledge about savings and other forms of investment. It is not when they get to the university that they should start learning about financial literacy.

“We have some graduates out there who are not financially literate. If you have a lot of money and you don’t how to manage it, you may experience a problem with spending. That is why the CBN decided to introduce this programme so as to catch these children young.”

The CBN official, therefore, advised the students to imbibe habit of saving money to meet their future and emergency needs, Punch reports.