The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has said that the lack of money management skills is driving financial crisis among public servants, urging them to manage, save and invest money.
A statement signed by the ministry’s Director of Information/Press, Phil Abiamuwe-Mowete said that the finance minister, who was represented by the Ministry’s Permanent Secretary, Aliyu Ahmed, had noted this at the flag off ceremony of Service-Wide Financial Literacy in the Work Place programme on Financial Inclusion, in Abuja.
The statement read in part, “The Ministry of Finance, Budget and National Planning, Mrs Zainab Ahmed, has declared that lack of primary skills on how to manage , save and invest money was one of the reasons why public employees experience financial troubles as most public servants do not cultivate effective saving habit rather they spend more than what they earn.”
The minister said there was a programme for ministries, departments and agencies involving financial literacy training for 12, 000 employees by December 2022.
In his address of welcome, the Permanent Secretary, Special Duties, Shehu Shinkafi, said that most employees in the public sector earned to consume largely due to a lack of financial literacy.