World Savings Day: Unity Bank To Launch Mobile App To Promote Financial Literacy Among Young Nigerians

Unity Bank Plc has unveiled plans to introduce a novel mobile application designed to promote financial literacy and savings habits among children and teenagers.

The announcement was made during a training session held at Emerald Fields School in Calabar, Cross River State, as part of the bank’s nationwide initiative to mark the World Savings Day.

The World Savings Day training, organized in collaboration with the Central Bank of Nigeria, Bankers Committee, and Junior Achievement Nigeria, aimed to instill essential money management skills in secondary school students across the country.

Unity Bank’s Managing Director/CEO, Tomi Somefun, emphasized the importance of cultivating good financial habits from an early age.

“Financial literacy is the foundation of a secure future,” Somefun stated. “By teaching students to distinguish between needs and wants, budgeting, and embracing delayed gratification, we empower them to take charge of their financial journeys.”

The upcoming app, designed specifically for children and teenagers, will provide tools to set SMART financial goals, understand compound interest, and build financial safety nets through savings and prudent money management.

During the training session, Unity Bank’s representatives guided students through interactive discussions and simulations on earning, budgeting, spending wisely, and understanding borrowing and saving principles.

Unity Bank’s initiative aligns with the Central Bank of Nigeria’s financial inclusion strategy, encouraging young Nigerians to embrace financial literacy early.

The bank’s commitment to youth development and capacity building is reinforced through financial literacy training held in six geopolitical zones.

The World Savings Day celebration, observed annually on October 31, aims to promote the importance of savings and financial awareness globally.

In Nigeria, the Central Bank of Nigeria, in collaboration with the Banker’s Committee, Deposit Money Banks, and Junior Achievement Nigeria, coordinated activities to engage students nationwide.

By introducing this innovative app and participating in World Savings Day activities, Unity Bank demonstrates its dedication to empowering young Nigerians with the knowledge and skills necessary to manage their finances effectively and secure a brighter financial future.