QNET, a lifestyle and wellness focused E-commerce company, says it has launched the second phase of its financial literacy programme, FinGreen to empower youths in Nigeria.

Mr Biram Fall, Regional Manager for QNET
Sub-Saharan Africa, made this known in a statement on Thursday in Lagos.

Fall said FinGreen was designed to impact critical financial management skills and knowledge, by training young leaders from various communities to become trainers of financial literacy and economic empowerment.

He said the programme was launched in partnership with Transblue, Consumer Advocacy and Empowerment Foundation (CADEF) and Financial Literacy For All (FLFA) as the implementation and content training partners, respectively.

Fall explained that like the pilot programme, the second phase would employ the train-the-trainers model, ensuring that the learning was transmitted to the community for a more sustainable outcome.

Fall noted that the programme's pilot phase trained 20 participants, who used the peer-to-peer module in Lagos, Oyo, Osun and Ogun state to train a total of 572 beneficiaries in just two months.

Fall said the total number of beneficiaries in the pilot phase reached 592, exceeding the initial forecast of training 420 young people.

“The launch of FinGreen phase two reinforces our commitment to empowering individuals to become financially inclusive in Nigeria.

"We believe that financial literacy is a critical skill in today's world. With FinGreen, we are equipping individuals with the tools and knowledge they need to take control of their financial future.

"We are thrilled once again to offer this transformative programme that impacts financial wisdom and fosters a community of like-minded individuals striving for success," he said.

The regional manager said reports from Enhancing Financial Innovation and Access (EFInA) indicated that Nigeria has a high financial exclusion rate compared to its peers in Sub-Saharan Africa.

He noted that it also identified low awareness of financial literacy levels as a major barrier to financial inclusion in Nigeria.

"The Central Bank of Nigeria (CBN) also stated earlier this year that penetration of financial literacy in Nigeria is still low, with a current rate of 64.1 per cent, "he said.

Fall explained that QNET recognises and acknowledges this critical need for financial literacy as an important skill for financial inclusion.

He added that FinGreen addresses the gaps by trained participants on savings, investment, money management, banking, risk management and insurance, among other key topics.

Mr Abiodun Ajisafe, Managing Director, Transblue and QNET’s local partner in Nigeria, said: “FinGreen is a game-changer for anyone looking to take control of their financial life.

"Financial literacy is the key to unlocking opportunities and empowering individuals to achieve their goals.

"With FinGreen, we provide a transformative platform that equips individuals with the tools and knowledge to navigate the complex financial landscape confidently, "Ajisafe said.