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FCMB Advises Youths to Imbibe Savings Culture

First City Monument Bank (FCMB) has tasked youths in Nigeria to key into the financial system by adopting savings culture and other financial management techniques that would help secure their future.

The bank was quoted to have made the clarion call at an outreach programme it organised for students in 30 secondary schools across the six geo-political zones in Nigeria, to commemorate this year’s World Savings Day on October 31, 2017.

The mentoring sessions, which the statement noted was in line with FCMB’s corporate social responsibility (CSR) and sustainability philosophy, were anchored by top executives of the bank at the schools.

This, it explained, was the second consecutive year the lender carried out the exercise in partnership with the Bankers’ Committee of the Central Bank of Nigeria (CBN), under the theme, “Learn, Earn, Save.”

Speaking during the mentoring session for students of Holy Child Girls College, Calabar in Cross River State, FCMB’s Manager, Calabar Road branch, Mr. Charles Emefiele, said imbibing financial principles at an early age would go a long way to help students and young ones manage their resources effectively, appreciate how money works and how it can be channeled to productive ventures now and in the future.

“When you regularly put aside a portion of the money you are given or earn in a safe place that pays interest, this is what is known as savings.

“Saving money from early age guarantees financial independence, prudent management, planning and overall success of individuals and society’’, he explained.

Emefiele further told the students that “the 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’’.

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

“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.