NEWS AGENCY OF NIGERIA Economy/Business Digital finance, future of young consumers – FCCPC

Digital finance, future of young consumers – FCCPC

Mr Babatunde Irukera, the Executive Vice Chairman of FCCPC

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By Ginika Okoye

The Federal Competition and Consumer Protection Commission (FCCPC) says an improved knowledge of digital finance will help young consumers position themselves for a greater future.

Mr Babatunde Irukera, the Executive Vice Chairman of FCCPC, said this at the 2023 National Young Consumer Contest Awards on Thursday in Abuja.

Irukera said digital markets would dominate the future hence the need for young consumers to acquaint themselves of what it entailed.

He said the theme of the contest which was: ‘Fair Digital Finance,’ was to direct young consumers attention to their future.

“The future belongs to the young people in Africa.

“Digital finance, digital markets are what will dominate the future.

“The thing big companies are interested in now are the young people. They want to know what the young ones like because the knowledge lies their profitability.

“We must be intentional in acquiring this knowledge.

“We cannot catch up with the rest of the world by building new schools. The way of instructions are going to be digital,” he said.

Ms Mercy Ogwu, the Head, Consumer and Business Education Department, FCCPC, said the contest came up out of the commission’s initiative known as ‘Learning for Life’.

Ogwu said the initiative was to catch the younger generation to make sure they understood consumerism.

She said the competition which was about essay writing was open to all schools both in secondary and tertiary levels.

“We have different segments of our sensitisation and a part of it is for schools.

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“We go to schools, set up school clubs and help them become proactive consumers.

“Every year, we access them and part of the assessment is to set up this competition and this year, they wrote an essay on fair digital finance,” she said.

The News Agency of Nigeria (NAN) reports that Master Peter Idara Ukweso of the Southern British High School, Calabar won the first position in the secondary schools cadre.

NAN also reports that Freedom Ominyi-Eje of the Benue State University, Makurdi won the first place in the tertiary cadre.

The winner in the secondary received N300,000, while the tertiary cadre winner received N500,000 and an advanced National Youth Service Corps (NYSC) placement in the Commission.

Some of the winners expressed gratitude to the FCCPC, saying that the knowledge had equipped them to understand consumerism. (NAN)(

Edited by Chinyere Joel-Nwokeoma

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