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Pages: 4993-4999
Publication year: 2014
ISBN: 978-84-617-0557-3
ISSN: 2340-1117

Conference name: 6th International Conference on Education and New Learning Technologies
Dates: 7-9 July, 2014
Location: Barcelona, Spain

FINANCIAL LITERACY EDUCATION POLICY IN NIGERIA: ESSENTIAL MONEY MANAGEMENT PRINCIPLES

S. Faboyede1, E. Ben-Caleb1, A. Faboyede2, B. Oyewo1, O. Akande3

1Covenant University (NIGERIA)
2Crawford University (NIGERIA)
3Ecole Superieure De Management Universite (ESM) (BENIN)
As a result of Nigeria’s commitment to the Maya declaration, the Central Bank of Nigeria (CBN) and other polity stakeholders intend to implement a National Financial Inclusion Strategy to decrease the number of Nigerians who have no access to financial services from 46.3% to 20% by the year 2020. A high implementation priority has been put on the design of a Financial Literacy Framework which is aimed at educating the Nigerian populace to improve their understanding of financial products, develop their skills and confidence so as to become more aware of financial risks and opportunities. This paper offers immense and detailed contributions to the curricula content development implementation and strategic direction of the financial literacy programmes which are being proposed for the country. It posits time tested/quick practical tips to jump-start and sustain a poverty free financial life. The research finds that essential money management principles are critically required to be liberated from the inability to make, manage, or multiply money, resources, and opportunities as this inability is one of the biggest causes of poverty. The paper finds that poverty is a man-made challenge which can be overcome or eradicated by man’s positively reinforced actions. It therefore recommends that these practical money management principles should be decisively and urgently made the bedrock of a new national financial literacy orientation campaign which aims at stamping out wastes, corruption, indiscipline, poverty, ignorance, unemployment, underdevelopment, a bleak future, and changing the face of practical curricula of schools, institutions, and organizations in the country.
@InProceedings{FABOYEDE2014FIN2,
author = {Faboyede, S. and Ben-Caleb, E. and Faboyede, A. and Oyewo, B. and Akande, O.},
title = {FINANCIAL LITERACY EDUCATION POLICY IN NIGERIA: ESSENTIAL MONEY MANAGEMENT PRINCIPLES},
series = {6th International Conference on Education and New Learning Technologies},
booktitle = {EDULEARN14 Proceedings},
isbn = {978-84-617-0557-3},
issn = {2340-1117},
publisher = {IATED},
location = {Barcelona, Spain},
month = {7-9 July, 2014},
year = {2014},
pages = {4993-4999}}
TY - CONF
AU - S. Faboyede AU - E. Ben-Caleb AU - A. Faboyede AU - B. Oyewo AU - O. Akande
TI - FINANCIAL LITERACY EDUCATION POLICY IN NIGERIA: ESSENTIAL MONEY MANAGEMENT PRINCIPLES
SN - 978-84-617-0557-3/2340-1117
PY - 2014
Y1 - 7-9 July, 2014
CI - Barcelona, Spain
JO - 6th International Conference on Education and New Learning Technologies
JA - EDULEARN14 Proceedings
SP - 4993
EP - 4999
ER -
S. Faboyede, E. Ben-Caleb, A. Faboyede, B. Oyewo, O. Akande (2014) FINANCIAL LITERACY EDUCATION POLICY IN NIGERIA: ESSENTIAL MONEY MANAGEMENT PRINCIPLES, EDULEARN14 Proceedings, pp. 4993-4999.
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