Nigeria’s payment service bank shows involvement in equipping students with financial literacy
Caption: L-R: Solomon Olowe, LCA Nigeria; Alvin Afadama, PR Specialist, 9PSB; Oludara Ogunbowale, Brands & Corporate Communications Lead, 9PSB; Jesse Okpara, Agent Merchant & Acquisition Officer, 9PSB, Oputah David, LCA Nigeria at the financial literacy training session at Liberty Career Academy Summer Camp held recently
9Payment Service Bank, Nigeria’s first licensed payment service bank, has reiterated its commitment to financial literacy and youth empowerment by conducting a training session at the Liberty Career Academy Summer Camp. The initiative exposed young participants to practical knowledge and essential life skills aimed at helping them make informed financial decisions and build a solid foundation for long-term economic success.
In a statement released on Sunday, the financial institution explained that the literacy session formed part of its broader mission to deepen financial education and inclusion across the country, particularly among underserved groups and younger generations.
The bank noted that its programme was designed to equip young Nigerians with the tools needed to understand money management, regular saving, investing, goal setting, and responsible spending. The training also highlighted the dangers of poor financial decisions, scams, and unsustainable lifestyles.
“The training session focused on helping participants understand the importance of money management, regular saving, goal setting, investing, and the need to spend wisely. Being financially literate can significantly improve livelihoods, help avoid scams, and better prepare young people for life after school,” the statement read in part.
Founded in 2020, 9PSB was licensed by the Central Bank of Nigeria as the country’s first payment service bank with a mandate to drive financial inclusion, especially among the unbanked and underbanked. Since its establishment, the fully digital bank has expanded its operations by offering innovative financial solutions for individuals, businesses, and fintech partners.
Through its literacy drive, 9PSB is seeking to instil a culture of saving and investing early in life, giving young Nigerians the foundation to achieve financial independence and contribute meaningfully to national economic growth.
The summer camp session underscored how early exposure to money matters can help young people navigate financial challenges with confidence and avoid pitfalls that often hinder long-term stability.
During the session, 9PSB’s Public Relations Specialist, Alvin Afadama, who facilitated the program, described financial literacy as an indispensable life skill. He stressed that the earlier young people acquire financial knowledge, the better their chances of making sound financial choices that will positively shape their futures.
“At 9PSB, we believe that empowering the next generation with this knowledge is key to building a more financially inclusive and economically resilient Nigeria,” Afadama said. “We are dedicated to advancing financial literacy nationwide, empowering young Nigerians to make smart financial decisions and build a stronger, more inclusive economy.”
Afadama explained that simple but powerful lessons—such as keeping track of income and expenses, differentiating between needs and wants, and understanding how to set financial goals—can dramatically change how young people approach money. By practising good habits early, they can avoid debt traps, save for future goals, and even become future investors and entrepreneurs.
The LCA Summer Camp initiative represents just one of several steps by 9PSB to deliver on its mission of empowering Nigerians through education and innovation. Beyond camps and workshops, the bank has also been developing digital platforms and services to make financial products more accessible to rural communities and underserved demographics.
Industry experts have consistently argued that financial literacy is crucial to Nigeria’s economic transformation. With more young people learning how to save, invest, and build wealth responsibly, the benefits extend beyond personal security to boosting financial inclusion and reducing poverty.
9PSB’s intervention at the summer camp, therefore, not only equips individual students with practical knowledge but also contributes to the broader national objective of fostering a financially literate, inclusive, and resilient economy.
As Nigeria continues to pursue its trillion-dollar economic transformation agenda, initiatives such as this reflect the importance of collaboration between financial institutions, educational bodies, and regulators in shaping a future where every Nigerian has the tools to thrive financially.
