By Roselyn James

QNET, a global direct-selling company, and its Nigerian franchisee, Transblue, have joined forces to enhance financial literacy in Nigeria.

Recognizing the significant impact financial literacy can on economic growth and development, the two companies have partnered with Consumer Advocacy and Empowerment Foundation (CADEF) and Financial Literacy For All (FLFA) to successfully complete the second phase of their financial literacy program, FinGreen, in Lagos state.

During FinGreen Phase 2, over 750 Nigerian youths were equipped with essential financial knowledge and skills, surpassing the achievements of the pilot phase. This accomplishment further highlights QNET’s commitment to economic empowerment and sustainable development in Nigeria. Financial education and literacy play a crucial role at all levels of Nigeria’s socio-economic structure.

Speaking about the FinGreen program, Mr. Akeem Ajisafe, the Managing Director and CEO of Transblue Nigeria Limited, explained that their vision goes beyond training 6,000 youths. Their goal is to impact the Nigerian economy by equipping its citizens with the necessary financial knowledge to make informed decisions. Ajisafe believes that if people understand the reasons behind the country’s hardships, they will be better equipped to manage their finances and reduce the impact of these challenges.

Professor Chiso Okafor, Executive Director for Consumer Advocacy and Empowerment Foundation (CADEF), commended QNET for the FinGreen programme, stating that it has transformed the lives of many Nigerian youths. Participants were provided with financial wisdom that helped them develop sound financial habits and make informed decisions. They were also empowered with insights into saving, investing, banking, risk management, and insurance. This education not only bridges the knowledge gap but also promotes financial inclusion and overall economic prosperity.

Laja Shoniran, the Executive Director of Financial Literacy for All, emphasized the importance of financial literacy for national development. He highlighted the need for financial literacy in Africa and Nigeria, stating that even wealthy individuals should prioritize financial literacy. Shoniran pointed out that while America dedicates an entire month to financial literacy, there is a dire need for similar initiatives in Africa.

The collaboration between QNET, Transblue, CADEF, and FLFA aims to address this need by equipping Nigerians with financial knowledge and empowering them to train others. The goal is not limited to impacting 6,000 individuals but extends to an endless number of Nigerians who can benefit from financial literacy.

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The Central Bank of Nigeria (CBN) emphasizes that the successful implementation of financial literacy programs will ensure the future economic and social well-being of Nigerians by reducing poverty, improving income, and facilitating development. It will also enable Nigeria to capitalize on global financial dynamics, enhance personal finance management efficiency, promote entrepreneurship and a banking culture, and ultimately ensure financial stability