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CBN Marks 2015 Global Money Week

CBN Marks 2015 Global Money Week


The Central Bank of Nigeria (CBN) has joined the rest of the world in marking this year’s Global Money Week, which kicked-off on Monday, March 9, 2015 with a walk by school children across the Federal Capital Territory (FCT).


Welcoming children for the walk on Tuesday, March 10, 2015, the Director, Consumer Protection Department (CPD) at the Bank, Hajiya Umma Aminu Dutse, said the event was an initiative of the Child Youth Finance International (CYFI) that is marked annually in several countries around the world. She noted that the event was to create awareness amongst children and youth so as to equip them with knowledge, skills and opportunities to use financial services responsibly and prudently.


Hajiya Umma, who was represented at the event by the Head, Consumer Education Division of the CPD, Hajiya Khadija Kasim, described children and youth as the future of the country, adding that the growth and development of the Nigeria was hugely dependent on the ability of the leaders in the country to invest in the future of youth and children.


She noted that it was only through robust financial literacy activities that the Bank could equip the youth with capabilities of making informed decisions that positively affect their financial well-being, there-by enabling them participate in financial markets.


In his remarks, President and Chief Executive Officer of the SAGE Nigeria, which organized the walk in collaboration with the CBN, Mr. Agwu Amogu, observed that youth empowerment is a great challenge in Nigeria. He noted that the event was not about the walk but the lessons on financial literacy, which he encouraged the children to imbibe.


The walk commenced from the Old Parade Ground in the Garki Area of Abuja, and terminated at the Head Office of the Bank, with many enthusiastic school children from schools in the FCT, participating.


A number of other activities have been lined up to mark the global event in Nigeria, including a lecture on financial literacy to be delivered to select school children by the Governor, Mr. Godwin Emefiele on Thursday, March 12, 2015.


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Facts : 1/7/1959
Evolution of Departments:At inception, the organisational structure of the CBN was understandably simple consisting of two departments, namely, the General Manager's and the Secretary's Departments, with the appropriate division of labour as then percieved. The General Manager's Department was responsible for all the Department banking, currency issues, debt management and other operational functions of the bank while the Secretary's Department handled the administrative and staff matters, carried out some research into the economic and financial conditions, and collected and analysed relevant statistics for policy formulation.
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