The Acting Chief Executive Officer(CEO) of the Nigerian Exchange Ltd.(NGX), Mr Jude Chiemeka, on Thursday urged Nigerian students to embrace financial literacy as a longlasting endeavour.
Jude said this at a symposium organised by the NGX, Central Bank of Nigeria(CBN) and other capital market operators in commemoration of the 2024 Global Money Week(GMW) in Lagos.
The 12th edition of the global celebration with the theme; “Protect Your Money, Secure Your Future”, was organised in partnership with Chapel Hill Denham, Coronation Group, Central Securities and Clearing System Plc and Miniemoney.
GMW is an annual global awareness-raising campaign on the importance of ensuring that young people are encouraged to be financially independent.
The youths are also motivated to acquire the knowledge, skills, attitudes and behaviours necessary to make sound financial decisions and ultimately achieve financial well-being and financial resilience.
The Acting NGX boss said that as Nigerians navigate the complexities of the financial world, it becomes increasingly evident that financial literacy and responsible money management were not only desirable traits, but essential tools for achieving long-term financial security and prosperity.
Jude said the event represented a significant step in the Exchange ongoing commitment to cultivating a community of financially literate future leaders.
According to him, these youths possess the knowledge and skills to make well-informed financial decisions through the array of financial literacy resources at their disposal.
He said, “I believe this theme holds particular significance, especially for young individuals like yourselves, who stand at a pivotal juncture in laying the groundwork that will ultimately shape the trajectory and quality of your lives a decade or more from now.
“I want to assure you that the NGX is here to support you, every step of the way.
Commenting, Mr Lanre Gbadamosi of the Consumer Protection Department of CBN, promoted the ‘Sabi Money Platform of the apex bank and how educative it is for school children.
Gbadamosi explained that the Sabi Money Platform encompasses 15 series of financial literacy topics, noting that “financial planning has to start now, and with the children”.
In her presentation, Chief Economist and Head of Economic Research/Intelligence at Coronation Merchant Bank, Ms Chinwe Egwim, educated the students on different economic terms and how it affects them.
Egwim advised the participants to have clear goals that can help them protect their money and cultivate the skills of patience and self-control.
Also, Ms Adaora Obikili, Head, Retail Strategy and Development, Chapel Hill Denham, noted that early starters in investing benefit the most from the power of compound interest.
Obikili said: “Saving a portion of your income for at least three months prepares you for rainy days. The best time to start saving and investing is yesterday, the next best time is today.
Stating the role of the Central Securities and Clearing System in the market, Ms Onome Komolafe, Divisional Head, Business Services and Customer Experience, CSCS said that CSCS is like the bank for the Nigerian stock market.
Komolafe explained that the CSCS is responsible for keeping track of who owns what stocks and making sure that when people buy or sell stocks and other assets, the transaction goes smoothly and safely.(NAN)
By Rukayat Adeyemi
 of the Nigerian Exchange Ltd.(NGX), Mr Jude Chiemeka, on Thursday urged Nigerian students to embrace){kind=link}