The National Association of Microfinance Banks (NAMB), FCT chapter, has urged students to imbibe the habit of saving to prevent spending what they have on consumption.
Speaking during a corporate social responsibility outreach at the Government Secondary School Area 11 Garki, the chairperson of NAMB and CEO Hasal MFB, Nwanna Joel-Ezeugo, said it wants to encourage financial literacy among students and educate them on the importance of savings to have investments they could look up to.
She said the outreach to the school was to talk to students to have confidence in themselves and have knowledge on why spending with savings could pose a challenge to achieving their future goals.
She added that the association also donated school materials to the tune of N1.3m to the students to ease their academic learning.
The Vice Chairman of NAMBS and CEO Prudent MFB, Sir Francis Akie, said the outreach is to bring its products close to the children for them to understand and know it is good to save at a tender age as without savings, there is a greater propensity to consume.
The CEO of MicroBiz MFB, Joe Onyeabor, said microfinance banks are the closest bank to the people, thus, it wants to relate with students to ensure they are exposed to financial literacy and inclusion very early in life.
