World Savings Day 2023 – Unity Bank, JAN, Deva Access and 9PSB Promote Savings Culture
Every year on October 31, people celebrate World Savings Day in an effort to raise awareness of the benefits of putting money in a bank. The 2023 World Savings Day theme is Conquer Your Tomorrow Through Savings. The purpose of World Savings Day is to raise public awareness of the value of savings for both individuals and modern economies. The primary subjects of discussion center on the role that deposits play in the world economy and the ways in which each depositor advances it.
As a financial literacy campaign, World Savings Day honors the advantages of frugal living. The purpose of the day is to raise public awareness of the value of saving. The European savings bank movement is where World Savings Day, also called World Thrift Day, got its start. On October 31, 1924, the inaugural International Savings Bank Congress was held in Milan, Italy. In order to encourage saving and responsible financial practices, the delegates resolved to declare October 31 to be World Thrift Day during this summit.
World Savings Day was created with the intention of increasing public awareness of the value of saving money and forming wise financial practices. It has developed into a worldwide celebration over time, with numerous nations taking part in events and initiatives to encourage prudent saving and financial literacy.
While the particular initiatives and priorities may differ from nation to nation, the overall objective is always the same: to motivate individuals to save aside money, make future plans, and attain financial security. World Savings Day is marked on October 31 every year as a historical remembrance of the first Congress and to spread the word about responsible money management.
In Nigeria, World Savings Day 2023 was well observed, with corporate organizations and various NGOs creating and participating in one activity or another. For instance, Junior Achievement Nigeria (JAN) partnered with CBN and the Bankers Committee to coordinate various schools in Nigeria for financial institutions to mentor youths and teach savings modules.
In the same vein, Deva Access and Empowerment Intl., an MFI NGO, conducted a savings awareness campaign and lecture for market women, traders, artisans, and youths in the Agege area of Lagos State, showing them, among other things, various ways and methods of easy savings and wealth accumulation.
In honor of World Savings Day, 9 Payment Service Bank (9PSB) taught children in Lagos’ elementary schools the value of saving and financial planning. The instructional effort took place at Bloomy Berries Nursery and Primary School in Lekki, Lagos, according to a statement from the company. Speaking at the mentorship program on the theme of “Conquer Your Tomorrow Through Savings,” Alex Ohai, Head of Human Resources at 9 Payment Service Bank, emphasized the value of savings for all people and the necessity of instilling these values in children at a young age, especially in this digital age. She claimed that doing this is essential to helping them make wise choices and take action about financial concerns, both of which would help them get ready for the future. “They can learn the art of saving as long as they are old enough to understand the value of money and what it accomplishes. This is a highly commendable program that fits right within the bank’s social mission. Since attaining financial inclusion is our main goal, financial literacy is essential. Since these youngsters will be tomorrow’s leaders, there has never been a better moment to begin working with them, Ohai stated.
Unity Bank Plc also held a training session for students of Kabayi Secondary School in Maraba, Nassarawa State, to commemorate World Savings Day. Speaking at the event, the CEO of Unity Bank, Mrs. Tomi Somefun said that both the government and parents must make it a priority to start educating children about financial responsibility, the savings culture, and investment from an early age. According to her, this is the best approach to raising a generation of financially literate individuals who are disciplined to drive wealth creation and socio-economic change in the country.
