CBN links financial literacy to economic growth strategy

The Central Bank of Nigeria has linked financial literacy to Nigeria’s broader economic growth strategy, saying informed financial decisions by citizens are critical to national development.

Speaking at the Global Money Week 2026 held at the bank’s headquarters in Abuja on Tuesday, the Director of Consumer Protection and Financial Inclusion Department, Dr Aisha Isa-Olatinwo, said, “The ability to make informed financial choices is a critical life skill that not only empowers individuals and strengthens families but also supports national economic growth.”

The event, which featured students from Doveland International School, Living Fountain International School, Government Day Secondary School, Wuse, and Government Science School, Maitama, was part of a global initiative to equip young people with financial management skills.

Isa-Olatinwo stressed that financial literacy had become increasingly important in a changing economic environment, noting that “in today’s rapidly evolving financial landscape, financial literacy is no longer optional; it is essential.”

She explained that the theme of this year’s event, ‘Smart Money Talks’, underlined the need for open discussions around financial matters, adding that such engagements help build confidence and correct misconceptions about money.

The director also highlighted ongoing initiatives by the apex bank to improve financial awareness among Nigerians, including digital learning platforms and public campaigns.

“As you may be aware, the Central Bank has deployed several consumer-focused initiatives aimed at ensuring improved awareness about managing finances effectively. Some of the examples include the Bank Consumer Education Series… and ‘Sabi Money’ platforms—an e-learning platform… aimed at equipping individuals, particularly our students,” she stated.

She added that the bank planned to deepen its financial literacy campaign beyond schools to reach wider segments of the population.

Encouraging students to adopt a long-term approach to money, she advised against viewing money solely as a spending tool.

“Let’s not see money as an instrument to spend. Look at money as an instrument for investment, and the yield from that investment, you can spend. That way, you build a rich future,” she added.

She further urged participants to pass on financial knowledge to others, describing peer learning as key to sustaining the initiative’s impact.

Also speaking, the Head of the Financial Inclusion Division at the apex bank, Mrs Temilade Akinfadeyi, said the 2026 financial literacy fair was designed to provide a hands-on, engaging learning environment for participants.

According to her, the programme would expose students to practical knowledge on managing money, saving, and spending responsibly, and introduce them to various financial opportunities.

She said, “This year’s theme highlights the importance of open and informed conversations about money. It reminds us that talking about money means asking questions, sharing knowledge, and learning from one another. It is a powerful step towards making smarter financial choices and building a secure future.

“At this fair, you will have the opportunity to interact with financial institutions, explore products and services tailored to young people. You will also gain valuable insights that will help you make better financial decisions both now and in the near future.”

Earlier, the Head, Consumer Education and Evaluation Division at the CBN, Mr Amuwa Nelson, said the Global Money Week initiative was aimed at equipping young people with the skills and confidence needed to make responsible financial decisions.

He noted that the financial literacy fair was designed to provide a practical platform for learning about money management, savings, and responsible spending, while exposing participants to a wide range of financial opportunities.

Nelson added that the event’s theme underscored the need for open conversations about money, urging participants to engage actively and make the most of the knowledge shared.

The PUNCH earlier reported that Polaris Bank announced its partnership with the CBN for the 2026 Global Money Week under the theme ‘Smart Money Talks’. The initiative, running from 7 April to 30 April 2026, aims to bridge the financial literacy gap by equipping secondary school students with the tools to navigate an increasingly complex digital economy.