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Expert urges Nigerians to imbibe savings culture

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Mr Bayonle Omoyele, the Executive Director, Reliance Thrift and Credit Cooperative Society, has advised Nigerians to imbibe savings culture in order to contribute to the nation’s economic development.

Omoyele gave the advice at the first Annual General Meeting of the cooperative on Saturday in Abuja, with the theme, “Cooperative: A tool for Economic Development”.

He said that investment and savings play important role in the growth and development of any nation.

“For this nation to grow we need to save and that is where cooperative society becomes useful.

“Nigerians should be encouraged to save for the rainy day so that it becomes an integral part of our culture.

“It will also improve our level of investments and, in turn, we will be able to employ more people, thereby improving the economy of our country.”

Omoyele also urged Nigerians to save their money with credible and registered cooperative societies in order not to be duped by criminals.

He said that the society, on its part, would introduce a digital system, where customers would receive alert immediately they drop their money for savings.

Mr Olugbesan Idris, the Executive Director, Regent Microfinance Bank, underscored the importance of cooperatives in the country.

Idris said that cooperatives would help to raise the living standards of Nigerians.

He further said that cooperatives help to create better opportunities for all along with the platform that helps to reduce inequality between the rich and poor.

Nigeria News Agency reports that highpoint of the event was the distribution of gift items to customers, award presentations and raffle draw.

(Edited by: Sam Oditah)

(NAN)

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