Saturday 7 November 2015

Nigerians lack saving habit – CBN

The Central Bank of Nigeria has said Nigerians lack the habit of saving, saying this has a negative effect on the country’s economy.

The Ondo State Branch Controller of the CBN, Mrs. Adeyemi Yusuf, stated this at the World Saving Day programme organised for students of St. Peters Unity Secondary School, Akure, the state capital. According to her, “saving habit is not very encouraging in Nigeria, and I think it is not peculiar to Nigeria, it is a worldwide thing and I think it is necessary for this kind of commemoration to come up and create awareness from time to time.”
She explained further that the “commemoration of the World Savings Day is one of the platforms the CBN is using to raise awareness of children and the youths on the importance of saving, which is expected to lead to an increase in the levels of financial literary, financial inclusion thus culminating in a stable and sound financial system and ultimately a positive economic environment.”
Stressing the need for parents and guardians to start training their children on how to save, the controller said it was imperative for every Nigerian to imbibe the culture of saving so as to have a better economy and citizenry.
 -Punch 

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