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CIBN To Eradicate Financial Illiteracy Among Nigerians

The issue about Bank Verification Number and the federal government’s move to takeover accounts without the BVN has further brought to the fore the level of financial literacy amongst Nigerians, one which the Chartered Institute of Bankers of Nigeria says is unimpressive.

President and Chairman, Governing Council of the CIBN, Professor SEGUN AJIBOLA says strategic collaboration, constructive engagement and effective communication are necessary to broaden the knowledge of the citizenry on financial matters, especially in the areas of money management, financial planning and personal financial behavior.

Professor AJIBOLA stated this when he led a delegation of past and present CIBN executives on a courtesy visit to Inspiration FM in Lagos.

He said the CIBN is strengthening its collaboration with the financial system regulators to take financial education to the people, particularly those in rural areas.

The CIBN boss however appealed to the federal government to give more time before implementing its directive on the takeover of accounts without BVN.

Former President of CIBN and Group Chairman of Inspirations Media, Dr ERASTUS AKINGBOLA, on his part, commended the achievements of the institute on improved banking services in Nigeria, which he attributed to its peaceful succession.

Dr AKINGBOLA however charged banks on the need to collaborate with the media on effective customer engagement on policies of government that affect their financial operations.

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