Responsible Finance Forum

First National Symposium on Financial Literacy in Nigeria

03 February 2010
Source:  Development Initiatives Network
 The Ford Foundation

This event, which has been organized by DIN aims to ensure that financial literacy is prioritized within the regulatory frameworks for the financial markets in Nigeria and that financial institutions on their own part equally promote financial literacy as part of their good governance as it relates to their clients.

Although, there is no single, uniform definition of financial literacy, it is commonly accepted that it describes the ability to make informed decisions that can help to bring about improvements in financial well-being and security. It has been variously described as a ‘fundamental tool’ and ‘a measure of whether people understand the forces that significantly affect the quality of their lives.’ It is also evident from the range of programmes and initiatives that have been introduced in several countries that financial literacy is increasingly being regarded as a matter of the highest political relevance.