The Book-A-Shelf Financial Literacy is an initiative aimed to improve financial literacy, highlighting it as a core life skill for participating in modern society. Children are growing up in an increasingly complex world where they will eventually need to take charge of their own financial future. As young adults learn to live independently, they will need to know how to budget and make wise financial choices for everyday living. Financial education can make a difference. It can empower and equip young people with the knowledge, skills, and confidence to take charge of their lives and build a more secure future for themselves and their families. The main public, private and civil stakeholders can view supporting financial education as a critical long-term investment in human capital.
These Naira money books are written based on statistics and national surveys, which show that youths have one of the lowest levels of financial literacy. This is reflected by their general inability to choose the right financial products and often a lack of interest in undertaking sound financial planning.
Even from an early age, children need to develop the skills to help choose between different career and education options and manage any discretionary funds they may have, whether from allowances or gifts. These funds may entail the use of savings accounts.
CBN has recognized the importance of financial literacy and has partnered with NERDC to include financial education in school curricula. CBN has also initiated a financial literacy programme to expose young people in primary and secondary schools to the principles of financial management, thereby empowering them to make sound financial decisions.
These books will help to create awareness and speed up financial knowledge amongst Nigerian children to help teach students various financial literacy topics, bank transactions, and banking terms.
