By Milcah Tanimu
The Central Bank of Nigeria (CBN) has urged the public to educate themselves and their children about the tactics used by fraudsters and scammers to protect their hard-earned money.
Speaking at the 2024 Global Money Week (GMW) celebration in Abuja, Mr. Philip Ikeazor, the Deputy Governor in charge of Financial System Stability (FSS), emphasized the importance of financial literacy in safeguarding one’s financial future.
Under the theme ‘Protect your Money, Secure your Future’, Ikeazor stressed the need for individuals to understand various scams and fraudulent activities and take necessary precautions to safeguard their finances.
He highlighted the significance of instilling financial literacy in children from an early age, enabling them to make informed decisions and secure their financial independence in the future.
Ikeazor emphasized that while earning money is important, financial security is equally crucial, requiring individuals to manage their resources effectively.
Moreover, he underscored the importance of recognizing different types of frauds and scams, knowing how to respond to scammers, and implementing strategies to protect money both online and offline. Ikeazor also encouraged individuals to report encounters with scammers to their banks promptly.
In his message, Mr. Nuhu Othniel, the Acting Director of the Consumer Protection Department of the CBN, reiterated the objectives of Global Money Week in promoting financial awareness among children and youths to enhance their future financial well-being.
Othniel highlighted the participation of Nigeria in the global movement since 2013 and outlined various activities organized to commemorate this year’s GMW, including school mentoring programs and visits to financial institutions.
As part of the celebrations, secondary school students from across Nigeria would participate in trips to the Nigerian Exchange Group and the CBN’s currency museum, among other activities aimed at promoting financial literacy and resilience among the youth.