In a drive to foster financial literacy and cultivate a culture of savings among young Nigerians, Unity Bank Plc has unveiled plans to introduce a new app tailored for children and teenagers. The announcement was made during a World Savings Day training session at Emerald Fields School in Calabar, Cross River State, as part of the Bank’s nationwide campaign to commemorate the global event.
The World Savings Day initiative, championed in Nigeria by the Central Bank of Nigeria (CBN), the Bankers’ Committee, and Junior Achievement Nigeria, aims to deepen financial inclusion by equipping students with essential money management skills. Unity Bank hosted simultaneous training sessions across 16 secondary schools nationwide, focusing on building a generation of financially responsible youths.
Speaking at the Calabar event, Unity Bank’s Managing Director/CEO, Mrs. Tomi Somefun, represented by Chief Compliance Officer, Mrs. Patricia Ahunanya, emphasized the importance of instilling good financial habits early. Highlighting the soon-to-be-launched app, Mrs. Somefun stated that the digital platform would empower students to set financial goals, understand compound interest, and manage their money wisely.
“Financial literacy lays the foundation for a secure future. By teaching students to differentiate between needs and wants, budget effectively, and practice delayed gratification, we enable them to take control of their financial journeys. The new app will serve as a practical tool to reinforce these lessons and encourage young Nigerians to embrace a culture of savings,” she explained.
During the training, Unity Bank’s representatives engaged students in interactive sessions covering topics such as earning, budgeting, spending wisely, and understanding the principles of borrowing and saving. The hands-on approach encouraged participants to set financial goals and adopt habits that promote long-term stability.
World Savings Day, observed annually on October 31, highlights the importance of savings and financial awareness worldwide. This year’s celebration saw Unity Bank aligning with the CBN’s financial inclusion strategy, leveraging the occasion to inspire young Nigerians to embrace financial literacy and responsible money management practices.
Unity Bank’s upcoming app for children and teenagers is expected to enhance its efforts by offering an engaging platform to set savings goals, monitor progress, and build healthy financial habits. The initiative underscores the Bank’s commitment to youth empowerment and capacity building across Nigeria’s six geopolitical zones.
By promoting savings and financial literacy through innovative solutions, Unity Bank reinforces its dedication to shaping a financially literate generation, contributing to the overall economic growth and stability of Nigeria.