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Diamond Bank Adopts Caro Favoured College, Ajegunle … Teaches Financial Literacy to Students

As part of efforts to promote financial literacy among children and youth, and give them access to good quality education, Diamond Bank PLC, a leading player in the Nigerian Retail Banking space, has adopted Caro Favoured College, Awodi-Ora, Ajegunle.

Officials of the bank, who visited the school on a mentoring program as part of activities to commemorate the Global Money Week, said the move was informed by Diamond Bank’s commitment to building capacity among the country’s future leaders and in support of the financial inclusion policy of the Central Bank of Nigeria.

Mr. Jude Anele, Head, Retail Banking, Diamond Bank PLC, who represented the Bank’s GMD/CEO, taught the children on Financial Literacy. Topics he dwelt on included: Financial Literacy, Fun Facts about Money, Qualities of Money and Managing Money. Others are: Understanding the Difference between Needs and Wants, Investments, Financial Regulations and Ways to Prepare for Retirement.

He noted that the lessons were designed to instill financial consciousness in the children so they can better manage money when they become adults who will be responsible for the country’s economic fortunes.

Addressing the students’ concerns on how the bank can assist in financing their education, Mr. Olumide Akindele, Head, Consumer Propositions Group, Diamond Bank PLC, said, “Diamond Bank is committed to helping you actualize your aspirations. Our primary focus today is to teach you how to manage money so you can be financially independent adults. Just remain focused so you will be prepared when opportunities come your way.” He assured that the bank had educational products to help them fulfill their aspirations.

Expressing appreciation on the adoption of the school and the mentoring program, Mrs. Caroline Ughamadu, Proprietress, Caro Favoured College, said, “The school management is delighted to have these bankers come around to teach our students despite their busy schedule. What is being done today has further strengthened the hope of these students in a great future, despite their underprivileged background. We want more corporate bodies to emulate Diamond Bank by partnering with private schools situated in underprivileged communities.”

Deputy Senior Prefect of the school, Ndubueze Mercy, noted that the financial literacy training has broadened her understanding of banking operations. She said: I have learnt a lot about banking. I knew about savings account and interest paid on such account before now but I did not know anything about financial regulations, preparing for retirement and investments. This financial education will go a long way to help my financial development. I hope to be an Economist despite the limitation of my environment. So, I want to thank Diamond Bank for bringing this programme to our school.

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