The Managing Director of Polaris Bank, Mr Tokunbo Abiru, has stressed the need for Nigerian students to cultivate the habit of growing their finances through regular savings.
The World Savings Day was first celebrated on October 31, 1924, and since then, the global community has devoted October 31st of every year to the promotion of savings culture all over the World.
He stated this on Thursday when the aba k joined the rest of the world to celebrate the World Savings Day with students of Government Secondary School, Hei-Rayfield in Jos, Plateau state along with 30 other schools across Nigeria.
According to the Managing Director, this could “be achieved by carefully and constantly monitoring discretionary spending habits and building a realistic budget that distinguishes between needs and wants.
“Money is never enough, that is the truth. You must deliberately decide to save money which means that saving is intentional. You must learn how to save ten percent of your pocket money and save towards a specific purpose”.
“Money saved should be placed in a financial institution for safekeeping and earn interest on your money. This reduces the risk of spending, theft and gives your money the chance to grow”, he added.
Abiru, who was represented by the Bank’s Group Head, North Central, Olayinka Obikanye, listed some of the ways through which the students could realize financial independence; making use of their skills, being an entrepreneur, creating their own budget, forming a savings club in their school; as well as opening their own bank accounts.
Commenting further while fielding questions after the lecture on why the Bank decided to organise the financial literacy lecture for the students.
“Every school is actually worth going to but at the end of the day, you still have to focus on a particular location. And that is why this Government Secondary School, Hei- Rayfield was chosen.
“What we are doing as a Bank is in line with our Corporate Social Responsibility initiatives and commitment to financial literacy for the young ones. We are happy that several years to come, the students will look back and remember our positive impact in their lives through these programs.”
The high point of the program was the presentation of gifts to deserving students.
In her remark, the Principal of Government Secondary School, Hei-Rayfield, Mrs. Rahila Dafyat thanked Polaris Bank for choosing their school for the lecture.
Dafyat, who was represented by the Vice Principal, Mr. Nash Gyang assured the Managing Director that the students will put the knowledge they acquired during the lecture into practice so as to better their lives.
Polaris Bank is a customer-centric bank committed to the delivery of industry-defining products, services, and platforms across all the key market segments of the Nigerian economy; serving a wide customer base in the public and private sector, including large and small corporate organizations, SMEs, professional groups and institutions.
