FG EMBEDS FINANCE EDUCATION IN PRIMARY/SECONDARY CURRICULUM
BY OMOKHUALE PUAH
In an attempt to improve the financial literacy of Nigerians, the Central Bank of Nigeria (CBN), in conjunction with the Nigeria Education Research Development Council (NERDC) would commence the teaching of financial education, for all levels of the Nigerian education system.
At a press briefing on Tuesday in Lagos, Haijia Umar Dutse who is the Director, Consumer Protection, CBN, announced that the essence of this move is to teach children on how to be better financial managers.
In the words of Haijia Dutse, “I cease this medium to thank the CBN and the stakeholders for the support they have given to undertake this project.
“Of course we know that financial education is not an activity an individual or an organization can effectively carryout, because its framework has taken the approach and so, all hands must be on deck so as to achieve an expected result. I am very happy saying that with the commitment of the various stakeholders, I think this has a long way to go and at the end of the year, this country will be a reference point with the development of the curriculum”. She said.
The executive Secretary, Nigeria Educational Research and Development Council (NERDC), Professor Ismail Junaidu said that one of the greatest lessons learnt from the recent global financial crises, resulting to the collapse of the Nigerian financial system of course lack of consumer and we are aware that the Nigerian Consumers lack knowledge and skill to enable them to understand financial concepts and to enhance their financial wellbeing by managing their personal financial matters.
In his words “As part of the efforts to address the issue on ground, the Federal Government had launched a National Financial Inclusion Strategy in 2012 which placed a high premium amongst the rest on financial literacy which is a measure route to the achieving this goal.
“The development of a financial education in both the primary, secondary and tertiary school curriculum has to be inculcated, in order to imbibe a desired financial habit in the minds of the citizenry from a very young age to adulthood to enhance good financial decisions” she added.
“Due to this huddle, the project of developing a financial school curriculum for our Nigerian Education at both basic and secondary school level is taking place under the auspices of the financial Group regulators; CBN, NDIC, PENCOM, NAICOM, NSE, GIZ, bankers committee, MercyCorps, NGOs and other stakeholders” he continued.
According to Professor Junaidu, the innovative curriculum which has been approved by the Federal Ministry of Education comprises of various themes as, money, savings, credit, insurance, deposit insurance, pension planning and budgeting, capital market, financial landscape and entrepreneurship.
He further added “each of this theme contains various concepts, activities, contents, learning resources and evaluation guides, which are sequenced and graduated for an effective implementation and learning objectives in their various lessons and schools”- Thisday.