As stakeholders marked this year’s Global Money Week, Efiko Management Consulting has called for a more structured and sustained approach to financial education in Nigeria.
It warned that delayed exposure to money management contributes to poor financial behaviour and weak ethical standards among young people.
The Managing Consultant and Chief Executive, Efiko Management, Omagbitse Barrow, said financial literacy remains one of the most overlooked yet impactful areas of education, adding that it is often introduced too late when individuals are already earning or making investment decisions.
He stated that by that stage, many money-related habits have already been formed, making behavioural change more difficult.
Barrow stated that financial education should extend beyond basic teachings on savings and investment to include ethics, value creation, and responsible wealth building.
He linked the prevalence of corruption partly to behavioural patterns developed early in life, arguing that proper financial education can instill accountability, discipline, and delayed gratification.
He added that such values are essential in reducing the tendency among individuals to pursue unethical financial shortcuts.
Efiko Management Consulting has been involved in promoting financial literacy initiatives across Nigeria. The firm has collaborated with the Securities and Exchange Commission Nigeria through its National Financial Literacy Technical Committee to develop educational materials, including animated and digital content used in nationwide campaigns.
These efforts were carried out in partnership with organisations such as Stanbic IBTC, Nigerian Exchange Group, and Emerging Africa.
At the grassroots level, the firm has partnered with financial institutions including First City Monument Bank, Access Bank, Zenith Bank, and Stanbic IBTC to introduce practical tools such as board games and storybooks in schools and youth programmes.
One of its flagship initiatives, the “Coins of Character” programme, was implemented in schools across Abuja between 2023 and 2025, reaching over 900 students and teachers in more than 30 schools, with additional indirect impact through extended school-based activities.
The firm also worked with the Central Bank of Nigeria’s Consumer Protection Department during Global Money Week and organised free webinars for parents and teachers to strengthen financial education at home and in classrooms.
Looking ahead, Barrow said the organisation plans to expand its reach through digital platforms, broader partnerships, and curriculum-based models that can be integrated into Nigeria’s formal education system.
