World Savings Day: FCMB Mentors Students in Twelve States

Lagos: November 2, 2016 – First City Monument Bank (FCMB) Limited has intensified its financial literacy campaign among youths by organising an outreach programme for students in twelve secondary schools across the country in commemoration of this year’s World Savings Day. The schools are located in Anambra, Zamfara, Oyo, Jigawa, Osun, Adamawa, Bayelsa, Niger, Gombe, Imo, Benue and Delta states. The Bank organised the programme in partnership with the Bankers’ Committee of the Central Bank of Nigeria (CBN).


The World Savings Day, which is celebrated every October 31, is aimed at enhancing the knowledge and understanding of students as well as the general public on the importance of savings, financial control, planning and other financial transactions to the development of individuals and society.


Speaking during the mentoring session for students of Government Day Secondary School, Samara in Gusau, Zamfara state, FCMB’s Zonal Head, Kano West, Mr. Abdullahi Mainasara, said that imbibing financial principles at an early age will go a long way to help students and the young ones to manage their resources effectively, appreciate how money works and how it can be channeled to productive ventures. Among other things, he urged the students, ‘’put aside a portion of what you earn regularly in a safe place that pays interest. This is known as Savings’’.


He further explained to them that, ‘’money saved should be placed in a financial institution for safekeeping and to earn interest on your money. This reduces the risk of spending, theft, and gives your money the chance to grow’’.


Also mentoring the students of Mater Amabilis Secondary School, Umuoji in Anambra State, the Manager Nnewi Old Onitsha Branch of FCMB, Mr. Vincent Agbasi, pointed out that, ‘’by being financially literate, students and indeed youths will be able to build their capacity for future business endeavours thereby securing their future and guaranteeing freedom from poverty’’. He advised the students to pass the message to their friends, parents and other family members.


Commenting on the significance of the Bank’s involvement in the annual World Savings Day, the Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo, said that it is an extension of the Bank commitment to drive and deepen prudent and effective management of resources among the populace. 


‘’We want our young ones, who are the hope and future drivers of Nigeria to understand and appreciate the importance of prudent management of resources and other initiatives that have the capacity to positively impact lives and by extension the society. This is to ensure their financial security and independence in future’’, he added.


Mr. Olojo assured that FCMB will sustain its support to efforts at promoting financial literacy and inclusion because, ’this is one of the most effective ways to empower Nigerians and build a robust as well as vibrant society’’.


Early this year, FCMB carried out a similar programme when it adopted Government Girls Secondary School, Akure in Ondo state and donated a power generating set to the school as part of the Financial Literacy Day. In 2015, the Bank organised a mentoring session for students of Girls College, Dala in Kano state. It used the opportunity of the programme to renovate and equip the school hall as part of measures to provide a conducive environment for the students. 


In 2014, Community Secondary School, Aka-Offot in Uyo, Akwa Ibom state  benefited from the gesture when the Bank took its outreach programme to students of the school, renovated its computer centre and donated 30 new computer systems. These deepened the capacity of the students and facilitated their knowledge, skill and proficiency, particularly on the use of information technology devices.


First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.