First Bank of Nigeria Limited says it has commenced a money-management programme that will encourage Nigerian teenagers to develop a healthy savings culture.
Specifically, the bank said it had introduced the MeFirst prepaid card specially designed for teenagers between the ages of 13 and 17.
According to a statement by the lender, it will also enable those within the age category to develop financial responsibility and money-management skills early in life.
It will also help them to imbibe a cashless culture as part of their banking experience in line with the Central Bank of Nigeria policy.
The statement read, “The card is to be preloaded by parents/guardians and it has a quarterly spending limit of N50,000.00.
“However, this is flexible and can be set to suit the preference of the caregivers.
“In view of the savvy nature of teenagers and to create diversified choices, the MeFirst prepaid card comes in five design options to suit different peculiar tastes; it is acceptable worldwide, can be used on all electronic platforms carrying the Visa logo and comes at a discounted cost compared with other prepaid cards.”
According to statistics from the CBN and the Nigeria Bureau of Statistics, 63 per cent of the country’s 168 million population are under 25 years and about 64.3 per cent of the population.
Punch
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