The Managing Director and Chief Executive Officer of First Bank of Nigeria Ltd., Mr Olusegun Alebiosu, has advised young Nigerians to embrace financial literacy as a tool for fraud prevention, income management and financial security.

Alebiosu gave the advice on Wednesday during a financial literacy day programme held at International School Lagos, University of Lagos, as part of activities marking the 2026 Global Money Week.

Speaking virtually on smart money management, Mr Alebiosu stressed the importance of budgeting, disciplined spending and regular savings.

“Smart money management is about how we think, plan, question and protect our money. It is about making wise decisions, planning ahead and avoiding financial setbacks,” he said.

According to him, financial literacy equips individuals with the knowledge to avoid scams, ask the right questions and make informed financial decisions.

He noted that effective money management begins with setting priorities and allocating income to essential needs such as transportation, communication and savings.

Mr Alebiosu advised participants to cultivate regular saving habits, noting that savings provide financial security and reduce dependence on others.

He said savings could be structured around short, medium and long-term goals, including emergencies, education, business development and asset acquisition.

The FirstBank CEO also encouraged the students to invest in skills capable of generating additional income and improving financial stability.

According to him, discipline and self-control remain critical to sound financial management.

“Earning money is not enough unless individuals are able to save, track expenses and make responsible financial decisions,” he said.

Also, Business Manager, Commercial Banking, Lekki Branch of FirstBank, Folake Oredola, educated the students on entrepreneurship and responsible financial behaviour.

She advised them to avoid impulsive spending, peer pressure and risky financial schemes, while cultivating consistent savings habits.

Ms Oredola added that young people could generate legitimate income through skills such as photography, teaching, design and online jobs.

Responding, an SS2 student of the school, Oluseye Elijah, said the programme provided practical lessons on budgeting, saving and responsible spending.

The 16-year-old student said the session improved his understanding of financial discipline and future planning.

The 2026 Global Money Week theme is “Smart Money Talks.”

(NAN)