…To train youths on financial literacy
In a bid to help Nigerians especially the youth who lack the ability to make informed decisions about their finances, Qnet, a global lifestyle and wellness direct-selling company, has launched the second phase of FinGreen programme in Nigeria.
FinGreen is a financial literacy education Programme with a model of peer to peer training, set up by Qnet last year.
Speaking during the kicking off of the second phase in Lagos yesterday, QNET Regional Director, Sub-Saharan Africa, Mr. Biram Fall said: “We have enabled at least 600 individuals to make informed financial decisions through comprehensive financial education, and this is just the beginning.
“FinGreen has empowered youth, women, and entrepreneurs vulnerable communities across Nigeria. FinGreen phase 2 aims to build on prior successes and increase our commitment to financial empowerment and 25 young people will be trained as financial literacy youth alumni to train more in their areas or networks.
“These people’s empowerment will transmit financial literacy and information to others.
“Financial inclusion and literacy are part of our CSR and corporate values, not merely
dreams. As micro-entrepreneur developers, we know education and inclusivity are crucial to a better future.”
He noted that Nigeria has a high financial exclusion rate compared to Sub-Saharan Africa.
Fall said: “According to a financial report by Enhancing Financial Innovation and Access (EFINA). It highlighted insufficient financial literacy as a key obstacle to financial inclusionin Nigeria.
“The Central Bank of Nigeria, CBN reported earlier this year that financial literacy in Nigeria remains low, at 64.1%, due to a lack of professional trainers and financial education outlets.
“Financial literary is essential for financial inclusion,and QNET recognises this.
FinGreen fills gaps by teaching members about saving, investing, money management, banking, risk management, and insurance.”
Also, CEO of Transblue Nigeria Limited,
Mr Abiodun Akeem Ajisafe, said: “There is a growing demand for job creation among young people Nigeria to drive economic growth.
“Because a sizable proportion of the Nigerian population faces financial challenges and have few options for revenue generation, there has recently been a surge in financial scams that
emerged post-COVID, resulting in the loss of hard-earned money for many young people in Nigeria.
“By offering Nigerians chances for economic empowerment through entrepreneurial education, financial literacy, skill development, and company management training,we are committed to resolving these concerns through our partnership.
“This will help them develop the abilities needed to launch and expand their enterprises in various industries.
“Fingreen,QNET’s trademark financial literacy initiative,was designed for these and other reasons to provide people with the knowledge and skills they need to manage their money responsibly and make sound financial
decisions.
“Young people in Nigeria are excited about entrepreneurship, viewing it as an opportunity to better their communities.
“This is obvious in their adoption of QNET’s Fingreen initiative, which has equipped over 600
young people with business management skills and assisted them in becoming financially literate,ensuring that our youth can make informed financial decisions.
“In Nigeria, we aim to train 6,000 Nigerian youths on financial literacy with the programme to equip them with the tools to make informed decisions about their finances,build a prosperous life,and create generational wealth for their families.
“FinGreen’s pilot phase was launched and began in Nigeria from June to September of last year, and it was a huge success. Our trainer facilitators,
who were pioneer trainees in the pilot phase ,educated over 500 youths in Lagos, Ogun, Osun, and Oyo States on financial literacy.”
One of the trainers, Executive Director, Financial Literacy For All, Mr Laja Showmiran, said financial literacy is about making informed decisions about one finances.
He said: “When you look around you will find that more people have gone down the poverty line in Nigeria and that is because of ignorance.
“Many times, it is not so much about not having money but how you manage the money. Even the Central bank alludes to the fact that financial literacy is a very important part of any form of business that you are doing.
“If you are not financially literate, there is a tendency for that business not to go too far,” Showmiran said.
Speaking to a final year student of the University of Lagos, UNILAG, who was one of the beneficiaries of the first phase, Miss Faith Enang she, said training has made her a finance authority among her colleagues.
Enang said: “When my friends need advice on finances they seek my opinion.
Apart from bettering my life, it has helped me to help other people and I’m so happy that I’m able to impact lives.”