Wema Bank Plc has identified the need to promote financial literacy among parents and children in the country. The management of the bank stated this during this year’s Children’s Day celebration when the bank hosted pupils from Taadel Primary School and Maryland Covent School in Lagos.
Speaking during the visit, the Head of Retail Banking, Wema Bank Plc, Dotun Ifebogun, said there was need to create more awareness on the relevance of financial literacy to the Nigerian child and the citizens at large.
Addressing the need for the event that brought the children on excursion to the bank, he said: “What we want for the children is not just to hear about banking but to also feel it by getting them acquainted with key banking operations. For instance, taking them through how the ATM works, how fund from their parents moves through the banking system among others.”
He added that with the high level of exposure among school children today, it is good for them to have better knowledge of finance and financial operations. “Financial literacy should not be taken for granted among children and even the adults,” he said
Ifebogun decried the low level of financial literacy in the country, saying; “If you do sampling among Nigerians today you will realise that the level of financial literacy is far below the level of education attained by majority of our children. What that means is that financial literacy should be passed on to children at early age.”
While encouraging improve saving culture, he noted that there is the need for proper awareness for the kids of today to know that they are entitled to have an account of their own and the benefits attached.
The visiting children who were quite enthusiastic about the various activities lined up for them, used the opportunity to identify with what goes on within the banking system. They were introduced to various banking products available for their age group in the bank that will help them actualise their future dreams.
